Assignment Task: Please explain how to solve the following questions.
Question 1: Three Years Future Value - What is the future value of $3,000 deposited for three years earning 7% interest rate annually?
a. 675
b. 3000
c. 6675
d. 3675
Question 2: Discounting Five Years - What is the present value of a $690 payment in five years when the discount rate is 5 percent?
a.540.63
b.690.00
c. 724. 50
d. 655.50
Question 3: Future Value of an Annuity - What is the future value of a $300 annuity payment over 6 years if the interest rates are 7 percent?
a. 450.22
b. 2145. 99
c. 2518. 15
d. 1926.00
Question 4: Future Value of an Annuity - What is the future value of a $1,200 annuity payment over 10 years if the interest rates are 8 percent?
a. 13, 723.07
b. 17,383. 87
c. 2590.71
d. 12960.00
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