3- Compute the present value of an ordinary annuity of $350 each year for five years, assuming an opportunity cost of 4 percent? 4-Fahad wants to invest a sum of money into account that pays 8% interest compounded annually so that every year for 5 years he can withdraw $500 ? 5-You want to buy an ordinary annuity that will pay you $4,000 a year for the next 20 years. You expect annual interest rates will be 8 percent over that time period. The maximum price you would be willing to pay for the annuity is closest to