Find the following values. Compounding/discounting occurs annually. Round your answers to the nearest cent. a. An initial $500 compounded for 10 years at 6%. $ 895.42 b. An initial $500 compounded for 10 years at 12%. $ 1552.92 c. The present value of $500 due in 10 year at 6%. $ 279.2 d. The present value of $2,165 due in 10 years at 12%. e. The present value of $2,165 due in 10 years at 6%. $ 1208.92 g 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. CII. 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. II How are present values affected by interest rates? Assuming positive interest rates, the present value will decrease as the interest rate decreases