8. 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 $800 compounded for 10 years at 8%. 6. An inibal 5800 compounded for 10 years at 16%. c. The present value of $800 due in 10 years at 8%. s d. The present value of $1,190 due in 10 years at 16% and 8%. Prevent value of 16% : $ Present value at 8%: 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 iess than the fiture value. 11. The present value is the valiae today of a sum of maney to be received in the future and in general is greater than the future value. Ii.. The present value is the value today of a sum of monoy to be rocelved 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 generat is greater than the future vatie. How are present values afected by interest ratese? and the future values of these ordinary annuties; Compounding occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent. a. 5700 per year for 14 years at 4%. $ b. $350 per year for 7 years at 2%. 3 c. $500 per year for. 7 years at 0\%s. 5 a. Rework parts a,b, and c assuming they are annuities due. Euture value of 5200 per year for 14 vears at 4%:5 Future value of 5350 per year for 7 years at 26415 Fiature value of 5500 per vear for 7 years at 0 th: 5