E6-3 (Computation of Future Values and Present Values) Using the appropriate interest table or Excel formula, answer each of the following questions: (Each case is independent of the others.)

E6-3 (Computation of Future Values and Present Values) Using the appropriate interest table or Excel formula, answer each of the following questions: (Each case is independent of the others.)

(a) What is the future value of $7,000 at the end of 5 periods at 8% compounded interest?

(b) What is the present value of $7,000 due 8 periods hence, discounted at 11%

(c) What is the future value of 15 periodic payments of $7,000 each made at the end of each period and compounded at 10%?

(d) What is the present value of $7,000 to be received at the end of each of 20 periods, discounted at 5% compound interest?

Note: Students using the tables or other sources of present and future values may have values slightly different due to rounding