6. What is the present value (PV) of each of the following investments? a. $500,000 due (to be received) in 20 years discounted at a 10 percent annual rate. b. $100,000 due (to be received) in 9 years at a 16 percent annual rate, with semi-annual discounting. 7. How much interest (in dollars) is earned in just the third year on a $1,000 deposit that earns 7% interest compounded annually? Note that you are finding the interest only in Year 3 and not the FV of this deposit at the end of Year 3