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% $ b. An initial $300 compounded for 10 years at 14% $ c. The present value of $300 due in 10 years at 7% $ d. The present value of $2,400 due in 10 years at 14% and 7% Present value at 1496: $ Present value at 7%:$ e. Define present value 1. 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. 11. 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 II. 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 values Select How are present values affected by interest rates? Select