5-2: Future Values 5-3: Present values Present and future values for different periods Find the following values using the equations and then a financial calculator. Compounding/discounting occurs annually. Round your answers to the nearest cent. a. An initial $400 compounded for 1 year at 3%. b. An initial $400 compounded for 2 years at 3%. 3 c. The present value of $400 due in 1 year at a discount rate of 3%. 5 d. The present value of $400 due in 2 years at a discount rate of 3%. 5