Compute the present value of a $$500$ investment made $6$ months, $5$ years, and $10$ years from now at $8$ percent interest. $($Remember the exponent for the $6$ month calculation is expressed as $0\mathrm{.}5,$ representing one$-$half of one year.$)$

Instructions: Enter your responses to the nearest penny $(2$ decimal places$).$ Do not round intermediate calculations.

Present value of investment made in $6$ months at $8$ percent $=$$

Present values of investment made in $5$ years at $8$ percent $=$$

Present value of investment made in $10$ years at $8$ percent $=$$

The present value of the investment is the principal has more time to grow $]$ the further into the future the investment is made because