The following problems based on Chapter 4 are set to give some practice with compounding more than once a year problems. Please provide your working notes (e.g. Excel, Word file). Round off your final answers to two decimal points. 1.What is the future value of $5,000 in 10 years at 5%, compounded monthly? 2.What is the future value of $10,000 in 8 years at 8%, compounded quarterly? 3.If you receive $10,000 in 5 years, what is its value today if the appropriate interest rate is 8% and interest is compounded semi-annually? 4.If you received $10,000 5 years back, what is its value today if the appropriate interest rate is 8% and interest is compounded monthly? 5.At what annual rate of return can you triple your money in 8 years if interest is compounded monthly? 6.At what annual rate of return can you quadruple (means 4 times) your money in 16 years, if interest is compounded quarterly? 7.How many periods will it take you to quadruple (means 4 times) your money at 7%, if interest is compounded semi-annually? how many years will it take? 8.How many periods will it take $500 to grow to$8,000 if you believe you can earn interest at the rate of 9% compounded monthly? how many years will it take? 9.What is the present value of $15,500 received in 10 years if interest of 1% is compounded monthly? 10.What is the present value of $22,000 received in 5 years if interest of 1% is compounded quarterly