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please show steps and calculation. thank you so much! For this activity you will be calculating the Present Value, Future Value and Payment amounts using

please show steps and calculation. thank you so much! image text in transcribed
For this activity you will be calculating the Present Value, Future Value and Payment amounts using the time value of money tables. Students can find the time value of money tables in the Appendix to Chapter 1 pages 4043 of thetextbook. 1. The future value of $550 six years from now at 7% APR. 2. The future value of $700 saved each year for 10 years at 8% APR. 3. The amount a person would have to deposit today (present value) at a 5%APR to have $1,000 five years from now. 4. The amount a person would have to deposit today to be able to take out $500 a year for 10 years from an account earning 8%. 5. Pete wants to have $8,000 available each year for various expenses. If he is able to earn 4% on his money, how much must e deposit today to be able to withdraw $8,000 a year for three years? 6. Carla deposits $3,000 a year into her retirement account. If these funds have average earnings of 7% for 40 years? 7. If you borrow $8,000 with a 5% APR to be paid in five equal annual payments. What would the payment amount be

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