The higher the interest rate and the longer the period of time: O The lower the future value and the higher the present value O The higher the future value and the higher the present value O The lower the future value and the lower the present value O The higher the future value and the lower the present value 1 point Suppose you receive $500 in 1 year and the interest rate is 5%. The equivalent value today is closest to: O $500 O $525 O $476 O $475 1 point Suppose you have $1,000 and the interest rare is 3.5%, then the equivalent value in one year is closet to: O $1,000.00 0 $965.00 O $1,035.00 $966.18