(4–10)

Present and Future Values of Single Cash Flows for Different Interest Rates Use both the TVM equations and a financial calculator to find the following values.

See the Hint for Problem 4-9.

a. An initial $500 compounded for 10 years at 6%

b. An initial $500 compounded for 10 years at 12%

c. The present value of $500 due in 10 years at a 6% discount rate

d. The present value of $500 due in 10 years at a 12% discount rate