Present value for various discounting periods

a. Find the present value of $500 due in the future under each of these conditions:

9% nominal rate, monthly compounding, discounted back 1 year. Round your answer to the nearest cent. $

Future value of an annuity

b. Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent.

$700 per year for 8 years at 0%.

$

$700 per year for 8 years at 0%.

$