Please answer each of the following questions in detail and provide in-text citations in support of your argument. Include examples. Make sure to provide examples for each of the questions below. 4 references minimum including book
a. Discuss how time value of money in the context of compounding interest.
b. Explain what an annuity is and what are the two most common types of annuity. Explain
how the present value and future value of an annuity is determined.
c. Extend the notion of compounding mentioned in your answer to part a above to
general situations where compounding is induced by growth, inflation, or deflation.