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Find the amount to which $450 will grow under each of the following conditions. Do not round intermediate calculations. Round your answers to the nearest

Find the amount to which $450 will grow under each of the following conditions. Do not round intermediate calculations. Round your answers to the nearest cent.

  1. 12% compounded annually for 5 years.

    $

  2. 12% compounded semiannually for 5 years.

    $

  3. 12% compounded quarterly for 5 years.

    $

  4. 12% compounded monthly for 5 years.

    $

2.

Find the present value of $600 due in the future under each of the following conditions. Do not round intermediate calculations. Round your answers to the nearest cent.

  1. 6% nominal rate, semiannual compounding, discounted back 5 years.

    $

  2. 6% nominal rate, quarterly compounding, discounted back 5 years.

    $

  3. 6% nominal rate, monthly compounding, discounted back 1 year.

    $

3.

Find the future values of the following ordinary annuities.

  1. FV of $800 each 6 months for 5 years at a nominal rate of 8%, compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent.

    $

  2. FV of $400 each 3 months for 5 years at a nominal rate of 8%, compounded quarterly. Do not round intermediate calculations. Round your answer to the nearest cent.

    $

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