Refer to the Table ​
(A) Using the Data in the Table, Calculate the |

Refer to the table.
$$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { PROJECT } \\\text { NAME }\end{array} & \begin{array} { c } \text { INTEREST } \\\text { RATE }\end{array} & \begin{array} { c } \text { NUMBER OF } \\\text { YEARS }\end{array} & \begin{array} { c } \text { FUTURE } \\\text { VALUE }\end{array} \\\hline \text { Project X } & 5.5 \% & 12 & \$ 60,000 \\\hline \text { Project Y } & 7 \% & 12 & \$ 60,000 \\\hline \text { Project Z } & 10 \% & 12 & \$ 60,000 \\\hline\end{array}$$ ​
(a) Using the data in the table, calculate the approximate present value of Projects X, Y, and Z.
(b) Which project has the lowest present value?
(c) Based on this question, and holding everything else equal, what is the relationship between the real interest rate and present value?