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(Solution document) Proficient-level: "What is the future value of a $1,000 annuity payment over five years if interest rates are 9 percent?


  • Proficient-level: "What is the future value of a $1,000 annuity payment over five years if interest rates are 9 percent?".
  • Recalculate the future value at 8 percent interest, and again, at 10 percent interest.
  • Proficient-level: "What is the present value of an $800 annuity payment over six years if interest rates are 10 percent?" .
  • Recalculate the present value at 9 percent interest, and again, at 11 percent interest. 


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