C&H Ski Club recently borrowed money and agreed to pay it back with a series of six annual payments of $6,700 each. At the same time, C&H borrowed additional money and agreed to pay it back with a series of four annual payments of $10,050 each. The annual interest rate for both loans is 2%

First Annuity. Table B. 3 Present Value of an Annuity of 1 p=[11/(1+i)n]/i