13. Present value: You want to buy some bonds that will have a value of1,000 at the end of seven years. The bonds pay 4.5 percent interest annually. How much should you pay for them today? 14. Present value: Elizabeth Sweeney wants to $12,000 by the end of 12 years. If the annual interest accumulate rate is 7 percent, how much will she have to invest today to achieve her goal? 15. Interest rate: You are in desperate need of cash and turn to your uncle, who has offered to lend you some money. You decide to borrow $1,300 and agree to pay back Alternatively, you could borrow from your bank that is charging 6.5 percent interest annually. Should you borrow from your uncle or the bank? $1,500 in two years