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 $500 compounded for 1 year at 7%. $ b. An initial $500 compounded for 2 years at 7%. $ C. The present value of $500 due in 1 year at a discount rate of 7%. $ d. The present value of $500 due in 2 years at a discount rate of 7%. $