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a) What is the present value of a 8-year ordinary annuity with annual payments of $586, evaluated at a 7 percent interest rate? Round your

a) What is the present value of a 8-year ordinary annuity with annual payments of $586, evaluated at a 7 percent interest rate? Round your answer to 2 decimal places; for example 2345.25.

b) What is the present value of $ 33,000 to be received 7 years from today, assuming an annual discount rate of 6 percent? Round your answer to 2 decimal places; for example 2345.25.

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