3. Present and future values for different interest rates

Find the following values. Compounding/discounting occurs annually. Round your answers to the nearest cent.

a. An initial $400 compounded for 10 years at 5%.

$

b. An initial $400 compounded for 10 years at 10%.

$

c. The present value of $400 due in 10 year at a discount rate of 5%.

$

d. The present value of $2,560 due in 10 years at 10%.

$

e. The present value of $2,560 due in 10 years at 5%.

$