Exercise C-2 Calculate the future value of a single amount (LOC-2) You want to save for retirement. Assuming you are now 20 years old and you want to retire at age 60, you have 40 years to watch your investment grow. You decide to invest in the stock market, which has earned about 10% per year over the past 80 years and is expected to continue at this rate. You decide to invest $1,500 today. Required: How much do you expect to have in 40 years? (FV of $1. PV of $1. EVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answer to 2 decimal places.) Future value Exercise C-4 Calculate the present value of a single amount (LOC-2) Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store offers the two ovens for $1,800 with payment due today. The second store offers the two ovens for $2,000 due in one year. Required: 1-a. Assuming an annual discount rate of 8%, calculate the present value. (FV of $1, PV of $1. EVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Present Value Store 1 Store 2 1-b. From which store should Ray and Rachel buy their ovens? O Store 21 Store 1