12. Present value of annuities You have a partnership stake in a business that pays you equal payments of $3,500 at the end of each year for the next five years. If the annual interest rate stays constant at 8%, what is the value of these payments in today's dollars? Round your answer to the nearest whole dollar. $11,878 $13,974 $15,092 $17,468 You found out that now you are going to receive payments of $7,000 for the next 15 years. You will receive these payments at the beginning of each year. The annual interest rate will remain constant at 12%. What is the present value of these payments? Round your answer to the nearest whole dollar. $47,676 $72,086 $42,718 $53,397