Problem 5-10 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 $300 compounded for 10 years at 6%. b. An initial $300 compounded for 10 years at 12%. C. The present value of $300 due in 10 year at 6%. d. The present value of $1,465 due in 10 years at 12%. e. The present value of $1,465 due in 10 years at 6%. 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 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 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 value. 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- Assuming positive interest rates, the present value will increase as the interest rate increases. Assuming positive interest rates, the present value will decrease as the interest rate increases