Use future value and present value calculations (see tables in the appendix for Chapter 1) to determine the following:

a. The future value of a $1,000 savings deposit after eight years at an annual interest rate of 4 percent.

b. The future value of saving $1,500 a year for seven years at an annual interest rate of 6 percent.

c. The present value of a $3,000 savings account that will earn 2 percent interest for eight years.