What is the calculation/answer for the following?
Use both the TVM equations and a financial calculator to find the following values.
a. An initial $500 compounded for 10 year at 6%.
b. And initial $500 compunded for 10 years at 12%.
c. The present value of $500 due in 10 year at a discount
rate of 6%.
d. The present value of $500 due in 10 year at a discount
rate of 12%.
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