1. Describe future value and present value. Do not use numbers and mathematical formulas, describe it with words. (You can use words like multiplied by and divided by, plus and minus) 2. Describe how to calculate the issue price of a bond that has a contract rate of 10 percent and a market rate of 12 percent. 3. Describe the difference between amortizing a bond premium or discount using the straight line method and the effective interest method