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Calculate the present value of the following: a-1. Annual payment of $1,200 for 12 years at 3% interest. (Do not round intermediate calculations. Round your

Calculate the present value of the following: a-1. Annual payment of $1,200 for 12 years at 3% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value a-2. Annual payment of $1,000 for 17 years at 3% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value b-1. Annual payment of $1,200 for 12 years at 12% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value b-2. Annual payment of $1,000 for 17 years at 12% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value

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