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Calculate the present value of the following: a - 1 . Annual payment of $ 9 0 0 for 1 2 years at 3 %

Calculate the present value of the following:
a-1. Annual payment of $900 for 12 years at 3% interest.
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
a-2. Annual payment of $700 for 17 years at 3% interest.
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
a-3. Which option would you prefer?
b-1. Annual payment of $900 for 12 years at 12% interest.
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
b-2. Annual payment of $700 for 17 years at 12% interest.
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
b-3. Which option would you prefer?
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