Present Value of Amounts Due Tommy John is going to receive $620,000 in three years. The current market rate of interest is 13%. a. Using the present value of $1 table in Exhibit 8, determine the present value of this amount compounded annually. Round to the nearest whole dollar. b. Why is the present value less than the $620,000 to be received in the future? The present value is less due to over the 3 years