a. Your grandmother will be giving you $3,000 per year for the next four years, the first payment beginning at the end of the first year. What is the present value of these receivables if the interest rate is 6%?
b. Your grandmother will give you $3,000 today and an additional $3,000 per year for the next four years, the second payment beginning at the end of the year. What is the present value of these receivables if the interest rate is 6%?
c. You expect to receive $4,000 in year 4 and $6,000 in year 6 and $8,000 in year 8. What is the present value of these payments today, if the interest rate is 8%?
d. You expect to receive $5,000 at the end of years 5, 6, 7 and 8. What is the present value today if the interest rate is 4%?