6. If we place $1000 in a savings account paying 5% annual interest rate, how much will our account accrue in 10 years? a. How much will the investment be worth if the interest compounds annually? b. How much will the investment be worth if the interest compounds monthly? 7. What is the present value of an annuity that pays $100 for three years. In other words, it pays $100 in year 1, $100 in year 2, and $100 in year 3. Assume the discount rate is 5%