5.07

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

1. An initial $500 compounded for 10 years at 9%.$
2. An initial $500 compounded for 10 years at 18%.$
3. The present value of $500 due in 10 year at a discount rate of 9%.$
4. The present value of $2,450 due in 10 years at 18%.$
5. The present value of $2,450 due in 10 years at 9%.$