10. Problem 5.10 (Present and Future Values for Different Interest Rates) eBook Find the following values. Compounding/discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent. a. An initial $300 compounded for 10 years at 7%. $ 321 b. An initial $300 compounded for 10 years at 14%. $ 1570.15 c. The present value of $300 due in 10 years at 7%. $ 280.37 d. The present value of $1,865 due in 10 years at 14% and 7%. Present value at 14%: $ Present value at 7%: $ e. Define present value. The present value is the value today of a sum of money to be received in the future and in general is less than the future value. The present value is the value today of a sum of money to be received in the future and in general is greater than the future value. The present value is the value today of a sum of money to be received in the future and in general is equal to the future value. The present value is the value in the future of a sum of money to be received today and in general is less than the future value. The present value is the value in the future of a sum of money to be received today and in general is greater than the future value. How are present values affected by interest rates?