eBook Find the following values. Compounding/discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent.

a. An initial $200 compounded for 10 years at 3%. _____

$ b. An initial $200 compounded for 10 years at 6%. _____

$ c. The present value of $200 due in 10 years at 3%. ______

$ d. The present value of $2,390 due in 10 years at 6% and 3%. ______

Present value at 6%: ______

$ Present value at 3%: ______

$ e. Define present value. Pick one below

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. -Select-

How are present values affected by interest rates? -Select-