Calculate the present value of the following annuity streams: a. $4,000 received each year for 6 years on the last day of each year if your investments pay 5 percent compounded annually. b. $4,000 received each quarter for 6 years on the last day of each quarter if your investments pay 5 percent compounded quarterly. c. $4,000 received each year for 6 years on the first day of each year if your investments pay 5 percent compounded annually. d. $4,000 received each quarter for 6 years on the first day of each quarter if your investments pay 5 percent compounded quarterly. (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) a. Present value b. Present value c. Present value d. Present value Calculate the future value of the following annuity streams: a. $4,000 received each year for 5 years on the last day of each year if your investments pay 8 percent compounded annually. b. $4,000 received each quarter for 5 years on the last day of each quarter if your investments pay 8 percent compounded quarterly c. $4,000 received each year for 5 years on the first day of each year if your investments pay 8 percent compounded annually. d. $4,000 received each quarter for 5 years on the first day of each quarter if your investments pay 8 percent compounded quarterly. (For all requirements, do not rourn intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) a. Future value b. Future value c. Future value d. Future value Compute the present values of the following annuities first assuming that payments are made on the last day of the period and then assuming payments are made on the first day of the period: (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Payment Years Interest Rate (Annual) Present Value (Payment made on last day of period) Present Value (Payment made on first day of period) $ 7 13 % 6 718.09 8,368.26 20,722.93 70,112.54 13 23 4 4 31