Find the following values. Compounding$/$discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent.

a$.$ An initial $$400$ compounded for $10$ years at $8\%.$

$

b$.$ An initial $$400$ compounded for $10$ years at $16\%.$

$

c$.$ The present value of $$400$ due in $10$ years at $8\%.$

$

d$.$ The present value of $$2,620$ due in $10$ years at $16\%$ and $8\%.$

Present value at $16\%$: $

Present value at $8\%$: $

e$.$ Define present value.

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.

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.

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.

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.

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.

$-$Select$-$

How are present values affected by interest rates?