1. Calculate the present value of the following cash flows:

What is $10,000 received five years in the future worth today if the discount rate is 4%? ________

What is $10,000 received ten years in the future worth today if the discount rate is 4%? ________

What is $10,000 received five years in the future worth today if the discount rate is 8%? ________

What is $10,000 received ten years in the future worth today if the discount rate is 8%? ________

What is an annuity of $10,000 received on the first of every year for five years worth today if the discount rate is 4%? ________

What is an annuity of $10,000 received at the end of every year for five years worth today if the discount rate is 4%? ________

What is an annuity of $10,000 received on the first of every year for five years worth today if the discount rate is 8%? ________

What is an annuity of $10,000 received at the end of every year for five years worth today if the discount rate is 8%? ________

What is a series of payments of $70,000, $60,000, $50,000, $40,000, and $30,000 received on the first of every year for five years worth today if the discount rate is 8%? ________

What is a series of payments of $30,000, $40,000, $50,000, $60,000, and $70,000 received on the first of every year for five years worth today if the discount rate is 8%? ________