Compute the future values of the following first assuming that payments are made on the last day of the period and then assuming payments are made on the first day of the period: (LG 2-9)

Payment Years Interest Rate Future Value

(Payment made on last day of period)

Future Value

(Payment made on first day of period)

$ 123 13 13%

4,555 8 8 74,484 5 10 167,332 9 1 AppendixLO1