2. Present and future values for different periods. Find the following values, using the equations and then a financial calculator. Compounding/ discounting occurs annually.

a. An initial $500 compounded for 1 year at 6 percent.

b. An initial $500 compunded for 2 years at 6 percent.

c. The present value of $500 due in 1 year at a discount rate of 6 percent.

a. An initial $500 compounded for 1 year at 6 percent.

b. An initial $500 compunded for 2 years at 6 percent.

c. The present value of $500 due in 1 year at a discount rate of 6 percent.

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