1. Calculate the future value of an annuity paying $500 at the end of each of the following four (4) years where the receipts would earn 6% per year when deposited. Give your answer in whole dollars.

a) $1,733

b) $2,000

c) $2,187

d) $3,488

2. True or False? The present value of an amount in the future will be smaller than the amount received in the future.

3. True or False? The future value of an amount will be larger than the amount today.