Find what is required in each problem with the formula and step.
1). What is the present value of $63,000 due in 7 months for 8% interest rate?
2). At 1/2 % simple interest, find the present value of $72,000, which is due at the end of 8 months.
3). At 9 1/2 % simple interest, what is the present value of $48,000 due in one year and three months?