Present Value of Amounts Due Tommy John is going to receive $360,000 in three years. The current market rate of interest is 5%. 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. $fill in the blank 1 b. Why is the present value less than the $360,000 to be received in the future? The present value is less due to over the 3 years.