Calculate the following Present Value and note the relationships between the Present Value and discount rates and the length of time the payment is received. Please show work/formulas.

6. Case 6: The discount rate remains at 3%; the years invested changes. (2 points)

a)PV of $100 received in 5 years with a discount rate of 3%:

b)PV of $100 received in 10 years with a discount rate of 3%:

c)PV of $100 received in 15 years with a discount rate of 3%:

d)As the length of time the money is received increases, the PV __________________.