a. An initial $800 compounded for 10 years at 4%. $ b. An initial $800 compounded for 10 years at 8%. $ c. The present value of $800 due in 10 years at 4%. $ d. The present value of $1,355 due in 10 years at 8% and 4%. Present value at 8%:$ Present value at 4%:$ e. Define present value. I. 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. II. 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. III. 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. IV. 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. V. 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