Is the answer for Present Value correct?

PROBLEM 1

Find the following values for a lump sum:

- The future value of $500 invested at 8 percent for one year

- The future value of $500 invested at 8 percent for five years

- The present value of $500 to be received in one year when the opportunity cost rate is 8 percent

- The present value of $500 to be received in five years when the opportunity cost rate is 8 percent

assuming:

a. Annual compounding

b. Semiannual compounding

c. Quarterly compounding

Present Value
Annual Compounding
N	1		PV 1 yr=	$462.96		N	5		PV 5 yr=	$1,996.36
I	8.0%					I	8.0%
PMT	500					PMT	500
Semiannual Compounding
N	2		PV 1 yr =	$891.63		N	10		PV 5 yr =	$3,355.04
I	8.0%					I	8.0%
PMT	500					PMT	500
Quarterly Compounding
N	4		PV 1 yr =	$1,656.06		N	20		PV 5 yr =	$4,909.07
I	8.0%					I	8.0%
PMT	500					PMT	500