Click here to read the eBook, Present Values PRESENT AND FUTURE VALUES FOR DIFFERENT INTEREST RATES 5. O Find the following values. Compounding/discounting occurs annually. Round your answers to the nearest cent. 6. a. An initial $700 compounded for 10 years at 6%. $ 7 8. > b. An initial $700 compounded for 10 years at 12%. $ 9. c. The present value of $700 due in 10 year at 6%. 10. $ 11 d. The present value of $1,840 due in 10 years at 12%. 12. $ e. The present value of $1,840 due in 10 years at 6%. $ 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. -Select- v How are present values affected by interest rates? -Select