Use future value and present value calculations to determine the following:

(Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D)

Note: Use appropriate factor(s) from the tables provided.

1. The future value of a $440 savings deposit after eight years at an annual interest rate of 3 percent.

2. The future value of saving $2,000 a year for five years at an annual interest rate of 4 percent.

3. The present value of a $6,200 savings account that will earn 3 percent interest for four years.