You have the opportunity to receive $300 in one year. If you can earn 6% interest on your investments over the year, what is the most you should you pay for this opportunity?

(Round to the nearest cent and do not enter the dollar sign)

You expect to receive $500 in five years from an investment.

What is this investment worth today if the effective annual interest rate is 12%?

(Round to the nearest cent and do not enter the dollar sign)