What is the present value of $1000 due in 2 years at 5% p.a. compound interest, according as the interest is paid (a) yearly or (b) half yearly?

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More In Introduction Grouping and displaying data to convey meaning: Tables and Graphs Logarithms Sampling and Sampling Distributions Accounting for Merchandising Operations Investments Financial Statement Analysis Completing the Accounting Cycle Probability I: Introductory Ideas Inventories Corporations: Organization and Capital Stock Transactions Budgetary Control and Responsibility Accounting The Recording Process Budgetary Planning The Straight Line. Polar Equations and Oblique Cordinates Probability Distributions Accounting in Action Statement of Cash Flows Corporations: Dividends, Retained Earnings, and Income Reporting Equations Adjusting the Accounts Accounting for Partnerships Coordinate Geometry Long-Term Liabilities Permutations and Combinations Accounting for Receivables Process Costing