Finance -
1. What is the present value of a series of payments received each year for 9 years, starting with $300 paid one year from now and the payment growing in each subsequent year by 3%? Assume a discount rate of 5%. Please round your answer to the nearest cent.
2. What is the present value of a series of payments received each year for 5 years, starting with $200 paid one year from now and the payment growing in each subsequent year by 1%? Assume a discount rate of 2%. Please round your answer to the nearest cent.
3. What is the present value of a series of payments received each year forever, starting with $500 paid one year from now and the payment growing in each subsequent year by 2%? Assume a discount rate of 5%. Please round your answer to the nearest cent.
4. What is the present value of a series of payments received each year forever, starting with $300 paid one year from now and the payment growing in each subsequent year by 10%? Assume a discount rate of 12%. Please round your answer to the nearest cent.