20q. (Present value of an annuity due)Determine the present value of an annuity due of

$2,000

per year for

8

years discounted back to the present at an annual rate of

15

percent. What would be the present value of this annuity due if it were discounted at an annual rate of

20

percent?

Question content area bottom

Part 1

a.If the annual discount rate is

15

percent, the present value of the annuity due is

$enter your response here.

(Round to the nearest cent.)

Part 2

b.If the annual discount rate is

20

percent, the present value of the annuity due is

$enter your response here.

(Round to the nearest cent.)