Problem 5-9 Present and future values for different periods

Find the following values using the equations and then a financial calculator. Compounding/discounting occurs annually. Round your answers to the nearest cent.

1. An initial $600 compounded for 1 year at 7%.$
2. An initial $600 compounded for 2 years at 7%.$
3. The present value of $600 due in 1 year at a discount rate of 7%.$
4. The present value of $600 due in 2 years at a discount rate of 7%.$