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

7. Case 7: Years invested remains at 5 years; the discount rate changes. (2 points)

a)PVA of $100 received each year at 3% for 5 years:

b)PVA of $100 received each year at 5% for 5 years:

c)PVA of $100 received each year at 7% for 5 years:

d)As the discount rate increases, the PVA _________________.