New York, NY: McGraw-Hill Education, business and finance homework help

250 words per question, APA formatting with 2 sources and in text citations. One source can be the text book

Kapoor, J. R., Dlabay, L. R., Hughes, R. J., & Hart, M. M. (2015). Personal finance (11th ed.). New York, NY: McGraw-Hill Education.

1. Why does money have a “time value”?

2. There is a saying that “time is money”. What is meant by that? How is this the same – or different – than the idea of the time value of money?

3. Find the future value of $5,000 invested in each of the following situations:

a. 5 percent for 10 years

b. 7 percent for 7 years

c. 9 percent for 4 years

4. What is the present value of $5,000 to be received in each of the following situations:

a. at end of 10 years with a 5% discount rate.

b. at the end of 7 years when the appropriate interest rate is 7%.

c. at the end of 9 years using an interest rate of 9%.