a) Calculate the present value of the following annuity: Payments of $100 every six months for 10 years given an interest rate of 4.00% p.a. with semi-annual compounding. There are 20 payments in total and each payment is made at the end of the six month period. (4 marks)

b) Calculate the future value of the following annuity: Payments of $500 every six months for 10 years given an interest rate of 4.00% p.a. with semi-annual compounding. There are 20 payments in total and each payment is made at the end of the six month period. (4 marks)

c) Calculate the Net Present Value of the following cash flows using an annually compounding interest rate of 10% p.a. (2 marks) Years from Today Cash Flow 0 -20000 1 -2000 2 12000 3 20000