6. Problem 5.10 (Present and Future Values for Different Interest Rates) Find the following values. Compounding/discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent. a. An initial $500 compounded for 10 years at 7%. $ b. An initial $500 compounded for 10 years at 14%. $ c. The present value of $500 due in 10 years at 7%. $ d. The present value of $2,530 due in 10 years at 14% and 7%. Present value at 14%:$ Present value at 7% : $ e. Define present value. I. 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. 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 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. How are present values affected by interest rates