Using the equations and tables in Appendix 12A of this chapter, determine the answers to each of the following independent situations:

a. The future value in two years of \($3,000\) deposited today in a savings account with interest compounded annually at 6 percent.

b. The present value of \($12,000\) to be received in four years, discounted at 12 percent.

c. The present value of an annuity of \($3,000\) per year for five years discounted at 14 percent.

d. An initial investment of \($48,015\) is to be returned in eight equal annual payments. Determine the amount of each payment if the interest rate is 12 percent.

e. Aproposed investment will provide cash flows of \($30,000\), \($12,000\), and \($9,000\) at the end of Years 1, 2, and 3, respectively. Using a discount rate of 20 percent, determine the present value of these cash flows.

f. Find the present value of an investment that will pay \($7,500\) at the end of Years 10, 11, and 12. Use a discount rate of 14 percent.