16. Calculate the present value of an annual payment of $3,000 per year for ten years at 8% (ordinary annuity) 17. How much will you have at the end of the 6th year if you invest $5,000 annually for six years at 7% annual rate, if you start one year from today? Calculate the present value for # 18, 19, and 20, if the discount rate is 12%. 18. $45,000 today in one lump sum. 19. $70,000 paid to you in seven equal payments of $10,000 at the end of each of the next seven years. 20. $80,000 paid in one lump sum 7 years from now. 21. Your Aunt Matilda Mae makes you the following offer: $15,000 upon graduation in one year or $18,000 upon MBA graduation in 3 years. Which offer should you take if current rates are 14%