Interest rates determine the present value of future amounts. (Round all numbers to the nearest whole dollar.) (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Present Value of Annuity of $1 table.) Click the icon to view the Future Value of $1 table. Requirements (Click the icon to view the Future Value of Annuity of $1 table.) 1, Determine the present value of seven-year bonds payable with face value of $88,000 and stated interest rate of 10%, paid semiannually The market rate of interest is 10% at issuance. same bonds payable as in Requirement 1, but the market interest rate is 16%. 3. 2. Same bonds payable as in Requirement 1, but the market interest rate is 8%. Requirement 1. Determine the present value of seven-year bonds payable with face value of $88,000 and stated interest rate of 10%, paid semiannually. The market rate of interest is 10% at issuance. (Round interim calculations and final answer to the nearest whole dollar.) Present Value When market rate of interest is 10% annually 88,000 Requirement 2. Same bonds payable as in requirement 1, but the market interest rate is 16%. (Round interim calculations and final answer to the nearest whole dollar.) Present Value When market rate of interest is 16% annually