(1) Calculate the future value of the following annuity streams:

a.	$4,000 received each year for 5 years on the last day of each year if your investments pay 7 percent compounded annually. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Future value

$

b.	$4,000 received each quarter for 5 years on the last day of each quarter if your investments pay 7 percent compounded quarterly. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Future value

$

c.	$4,000 received each year for 5 years on the first day of each year if your investments pay 7 percent compounded annually. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Future value

$

d.	$4,000 received each quarter for 5 years on the first day of each quarter if your investments pay 7 percent compounded quarterly. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Future value

$

(2)

Calculate the present value of $4,000 received five years from today if your investments pay (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))

		Present Value
a.	7 percent compounded annually	$
b.	9 percent compounded annually
c.	11 percent compounded annually
d.	11 percent compounded semiannually
e.	11 percent compounded quarterly

(3) Calculate the present value of the following annuity streams:

a.	$8,000 received each year for 6 years on the last day of each year if your investments pay 7 percent compounded annually. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Present value

$

b.	$8,000 received each quarter for 6 years on the last day of each quarter if your investments pay 7 percent compounded quarterly. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Present value

$

c.	$8,000 received each year for 6 years on the first day of each year if your investments pay 7 percent compounded annually. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Present value

$

d.	$8,000 received each quarter for 6 years on the first day of each quarter if your investments pay 7 percent compounded quarterly. (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Present value

$