Please do not answer using excel

3) What is the future value at the end of year 10 of a series of 6 deposits? The first deposit occurs at the end of year 5 and is $700. The remaining deposits increase by $150/year (so the last deposit will be $1,450 and will occur at the end of year 10). Assume i = 10% annual rate compounded annually.

Answer _____________________

4) Your business is expected to generate a $60,000 profit at the end of year 1, and profit will increase by 9% per year through year 10. If you can earn 7% annual interest compounded annually, what is the present value of all your profits over the next 10 years?

Answer _____________________

5) What is the future value at the end of year 13 of an investment that starts at $6,000 and grows by 7% per year for 13 years ($6,000 is invested at the end of year 1). The interest rate is 10% annual compounded annually.

Answer _____________________

6) You anticipate a cash flow of $900 at the end of year 1, $600 at the end of year 2, and $500 at the end of year 4. What is the annual equivalent of the cash flow for years 1 through 4? In other words, what constant value A could you receive at the end of years 1-4 such that the two cash series of flows are economically equivalent? The interest rate is 6% annual compounded annually.

Answer ___________________