9-3 What is the present value of $1,552.90 due in 10 years at (1) a 12 percent discount rate and (2) a 6 percent rate? Find the amount to which $500 will grow in five years under each of the following...

9-3 What is the present value of $1,552.90 due in 10 years at (1) a 12 percent discount rate and (2) a 6 percent rate?

Find the amount to which $500 will grow in five years under each of the following conditions:

a. 12 percent compounded annually