Find the following Future Values (FV) and Present Values (PV) . Suggestion: you may want to use the equations and then also solve the problem using a financial calculator can check your answers. Also note that the financial calculator will preserve each of the inputs until it is cleared. Thus to solve (b) you need only change N to 2 and then recalculate.

a. FV of an initial $500 compounded for one year at 6%

b. FV of an initial $500 compound for two years at 6%

c. PV of $500 due in one year at a discount rate of 6%

d. PV of $500 due in two years at a discount rate of 6%