Problem $9-$ D

Present Value, Future Value

The following situations involve time value of money calculations.

$6$ years for annually

A deposit of $$10,000$ is made on January $1,$ Year $1.$ The deposit will earn interest at a rate of $4\%.$ How much will be accumulated on January $1,$ Year $7,$ assuming the interest is compounded $($a$)$ annually, $($b$)$ semiannually, and $($c$)$ quarterly?

A deposit is made on January $1,$ Year $1,$ to earn interest at an annual rate of $8\%.$ The deposit will accumulate to $$10,000$ by January $1,$ Year $8.$ How much money was originally deposited, assuming the interest is compounded $($a$)$ annually, $($b$)$ semiannually, and $($c$)$ quarterly?