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1. A potential investment pays $10 per year indefinitely.

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1. A potential investment pays $10 per year indefinitely. The apprpriate discount rate for the potential investor is 10%. How is the present value of this cash flow calculated?

2. Jill Clinto puts $1,000 in a savings passbook that pays 4% compounded quarterly. How much will she have in her account after 5 years?

3. Tracey deposits $5,000 in a 5-year certificate of deposit paying 6% compounded semiannually. How much will Tracey have at the end of the 5-year period?