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Three formulas for calculating present value are shown below. Formula #1- PV=FV/(1+i)^nt. Formula #2- PVOA= c (1/i - 1/ i(1+i)^nt). Formula #3 PVAD=C (1/i -

Three formulas for calculating present value are shown below. Formula #1- PV=FV/(1+i)^nt. Formula #2- PVOA= c (1/i - 1/ i(1+i)^nt). Formula #3 PVAD=C (1/i - 1/i(1+i)^nt-1)+C

Part 1: Using complete sentences, explain how each of these formulas is used.

Part 2: Creae an example scenario for at least one of the formulas. (4 points)

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