Question

Below Question can you please explain to me step by step becasue I had hard time understanding how to solve it and the meaning of it. 

Use the future value formaula (6) to find each of the indicated values.

1.   n=20;  i=0.03; PMT=$500; FV=?

2.   FV=$5,000; n=15; i=0.01; PMT=?

3.   FV=$4,000; i=0.02; PMT=200; n=?

4.   Explain why no interest is credited to an ordinary annuity at the end of the first period?

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