6. Check My Work 7 2 8 E eBook 9. o 10 Find the following values. Compounding/discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent. a. An initial $800 compounded for 10 years at 10%. 11. 12 $ 13. . b. An initial $800 compounded for 10 years at 20% 8 14 o $ 15 0 c. The present value of $800 due in 10 years at 10% 16. $ 12 18. 0 19. 20. d. The present value of $2,995 due in 10 years at 20% and 10%. Present value at 20%: $ Present value at 10%: $ 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 II. 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 11. 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 value. value. I How are present values affected by interest rates? Assuming positive interest rates, the present value will decrease as the interest rate increases