3. What is the future value in five years of $1,500 invested at an interest rate of 4.75%? 4. What is the future value of a single payment with the following characteristics? PV NPER RATE $950 6 years 5% 5. What is the present value of $62,000 in six years, if the relevant interest rate is 8.1%? 6. What is the present value of a single payment with the following characteristics? NPER RATE FV 11 years 7% $10,000 7. The present value of a payment is $4000. The future value of that payment in four years will be $4800. What is the annual rate of return? 8. What is the annual rate of return of a single payment with the following characteristics? PV NPER FV $1,000 12 years $10,000