4. Present Valuc of an Annuity An investment pays you $120 at the end of each of the next five years. If the interest rate earned on the investment is value of the investment (in other words, how much should you be willing to pay for the investment)? a. 8 percent, what is the present b. An investment pays you $30 at the end of each of the next 20 quarters If the interest rate earned on the investment is 2 percent each quarter, what is the present value of the investment? An investment pays you $100 at the end of each of the next five years. The investment will then pay you $200 at the end of year six, $300 at the end of year seven, and S500 at the end of year eight. If the interest rate earned on the investment is 8 percent, what is the present value of the investment? c