How much money must beinvested into an account paying 6% annually, compounded annually, to have$500,000 in 25 years when I retire?1. Calculate the PV (PresentValue) using the “Present Value of $1.00” table in your textbook.Calculate the PV (PresentValue) using the formula: PV = FV / (1 +R)NHow much interest did youearn over the life of the investment?