C&H Ski Club recently borrowed money and agrees to pay it back with a series of six annual payments of $5,000 each. C&H subsequently borrows more money and agrees to pay it back with a series of four annual payments of $7,500 each. The annual interest rate for both loans is 6%.

1 Use Table B.1 to find the present value of these two separate annuities. (Round amounts to the nearest dollar.)

2 Use Table B.3 to find the present value of these two separate annuities.

AppendixLO1