7. 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 $700 compounded for 1 year at 5%. b. An initial $700 compounded for 2 years at 5%. c. The present value of $700 due in 1 year at a discount rate of 5%. d. The present value of $700 due in 2 years at a discount rate of 5%