Find the following values using the equations and then a financial calculator. Compounding/discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent. a. An initial $400 compounded for 1 year at 5%. b. An initial $400 compounded for 2 years at 5% The present value of $400 due in 1 year at a discount rate of 5%. d. The present value of $400 due in 2 years at a discount rate of 5% PRESENT AND FUTURE VALUES FOR DIFFERENT INTEREST RATES Find the following values. Compounding/discounting occurs annually. Round your answers to the nearest cent. a. An initial $400 compounded for 10 years at 5%. b. An initial $400 compounded for 10 years at 10%. C. The present value of $400 due in 10 year at 5%. d. The present value of $2,750 due in 10 years at 10% e. The present value of $2,750 due in 10 years at 5%. Define present value. I. 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. II. The present value is the value today of a sum of money to be received in the future and in general is greater than I. 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. 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 va V. 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? -Select