5) a) What is the present value of S40 earned 2-years from now if compounding was semi-annual and the interest rate is annually 3%? b) A "black box"just paid $20, which is expected to grow by 3% when the interest rate is 7% forever, what is the present value of this "black box"? c) What is the future value of an annuity due with a $15 cash flow, 4% annual interest with quarterly compounding three-years from now? d) If the monthly interest rate is 0.5%, then what is the effective annual rate? What is the stated annual rate