Consider the following alternatives:

i$.$ $$130$ received in one year

ii$.$ $$240$ received in $5$ years

iii. $$340$ received in $10$ years

a$.$ Rank the alternatives from most valuable to least valuable if the interest rate is $12\%$ per year.

b$.$ What is your ranking if the interest rate is only $3\%$ per year?

c$.$ What is your ranking if the interest rate is $19\%$ per year?

a$.$ Rank the alternatives from most valuable to least valuable if the interest rate is $12\%$ per year.

First, calculate the present value $($PV$)$ of each alternative:

The PV of $$130$ received in one year if the interest rate is $12\%$ per year is $

$($Round to the nearest cent.$)$