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A 5-year $300 ordinary annuity has an annual interest rate of 3%. (1) What is its present value? Please draw the time line and list

A 5-year $300 ordinary annuity has an annual interest rate of 3%.

(1) What is its present value? Please draw the time line and list the inputs of your financial calculator.

(2) What would the present value be if it was a 15-year annuity? Please list the inputs of your financial calculator.

(3) What would the present value be if it was a 30-year annuity? Please list the inputs of your financial calculator.

(4) What would the present value be if this was a perpetuity?

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