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7. Present value of annulties Your uncle has said that if you agree to finish college he will give you equal payments of $3,500 at
7. Present value of annulties Your uncle has said that if you agree to finish college he will give you equal payments of $3,500 at the end of each year for the next eight years. If the annual interest rate stays constant at 4%, what is the value of these payments in today's dollars? Round your answer to the nearest whole dollar. $24,507 $29,455 $20,029 $23,564 You found out that now you are going to receive payments of $5,000 for the next 14 years. You will receive these payments at the beginning of each year. The annual Interest rate will remain constant at 16%. What is the present value of these payments? Round your answer to the nearest whole dollar. $27,338 $25,370 $31,712 $42,811
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