Suppose you invest $500 in a mutual fund today and $600 in one year. (a) If the fund pays 9% annually, how much will you have in 2 years? (b) How much will you have in 5 years if you make no further deposits? An investment pays you S20,000 at the end of this year, and $10,000 at the end of each of the four following years (i.e., of year 2, 3, 4, 5). What is the present value (PV) of this investment, given that the interest rate is 4% per year? Joe just inherited the family business, and having no desire to run the family business, he has decided to sell it to an entrepreneur. In exchange for the family business, Joe has been offered an immediate payment of $100,000. Joe will also receive payments of S50,000 in one year, S50,000 in two years, and $75,000 in three years. The current market rate of interest for Joe is 6%. In terms of present value (PV), how much will Joe receive for selling the family business