1)For each of the following questions, determine the future value of the given principals when compounded (a) annually, (b) semiannually, (c) quarterly, and (d) continuously. 1 a)$1000 at 8 percent for 5 years.

b)$10,000 at 9 percent for 8 years.

2)Determine the present value of $5000 to be paid in 8 years time if current interest of 10 percent is compounded (a) annually, (b) semiannually, (c) quarterly, and (d) continuously.