1. Find the future value of todays $500 in 5 years under each of the following conditions:

a. 12% nominal rate, annual compounding

b. 6% nominal rate, annual compounding

c. 3% nominal rate, annual compounding

2. Find the future value of the following ordinary annuities

a.$400 per year for 10 years at 10%

b.$200 per year for 5 years at 5%

c. $400 per year for 5 years at 3%

3. Find the present value of the following ordinary annuities

a. $400 per year for 10 years at 10%

b. $200 per year for 5 years at 5%

c. $400 per year for 5 years at 3%

4. Find the present value of the following cash flow streams. The appropriate interest rate is 8 %. Assume cash flows occur at the end of the year.

Year	Cash Stream A	Cash Stream B
1	$100	$300
2	400	400
3	400	400
4	400	400
5	300	100