c) The amount a person would have to deposit today (present value) at an interest rate of 5 percent to have $1,200 five years from now. (Round time value factor to 3 decimal places and final answer to 2 decimal places.)

(d) The amount a person would have to deposit today to be able to take out $600 a year for 7 years from an account earning 6 percent. (Round time value factor to 3 decimal places and final answer to 2 decimal places.)