5. Problem 5.10 (Present and Future Values for Different Interest Rates) eBook Find the following values. Compounding/discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent. a. An initial $600 compounded for 10 years at 7%.. $ b. An initial $600 compounded for 10 years at 14%. $ c. The present value of $600 due in 10 years at 7%. $ d. The present value of $2,870 due in 10 years at 14% and 7%. Present value at 14%: $ Present value at 796: $ c. The present value of $600 due in 10 years at 7%. $ d. The present value of $2,870 due in 10 years at 14% and 7%. Present value at 14%:$ Present value at 7%: $ e. Define present value. 1. 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. 11. 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 III. 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. -Select- v How are present values affected by interest rates? Select