5. Problem 5.09 (Present and Future Values for Different Periods) eBook Find the following values using the equations and then a financial calculator. Compounding/discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent. a. An initial $300 compounded for 1 year at 3%. b. An initial $300 compounded for 2 years at 3%. C. The present value of $300 due in 1 year at a discount rate of 3%. d. The present value of $300 due in 2 years at a discount rate of 3%. 7. Problem 5.13 (Time for a Lump Sum to Double) eBook How long will it take $600 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two decimal places. a. 8%. year(s) b. 15%. year(s) C. 17%. year(s) d. 100% year(s)