Complete the following for the present value of an ordinary annuity. (Use Table 13.2.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Amount of annuity expected Payment Time Interest rate Present value (amount needed now to invest to receive annuity) $ 15,000 Quarterly 4 years 8 % TABLE 13-2 Present value of an annuity of $1 Period 4% 5% 6% 7% 9% 10% 11% 12% 13% 1 0.8850 N 0.9524 1.8594 2.7232 0.9009 1.7125 2.4437 3.1024 0.8929 1.6901 2.4018 3.0373 3 4 5 1.6681 2.3612 2.9745 3.5172 3.9975 4.4226 3.6959 4.2305 3.6048 4.1114 6 7 8% 0.9259 1.7833 2.5771 3.3121 3.9927 4.6229 5.2064 5.7466 6.2469 6.7101 7.1390 7.5361 7.9038 4.7122 4.5638 4.9676 0.9174 0.9091 1.7591 1.7355 2.5313 2.4869 3.2397 3.1699 3.8897 3.7908 4.4859 4.3553 5.0330 4.8684 5.5348 5.3349 5.9952 5.7590 6.4177 6.1446 6.8052 6.4951 7.1607 6.8137 7.4869 7.1034 8 5.1461 0.9615 1.8861 2.7751 3.6299 4.4518 5.2421 6.0021 6.7327 7.4353 8.1109 8.7605 9.3851 9.9856 10.5631 11.1184 11.6523 4.7988 3.5459 4.3295 5.0757 5.7864 6.4632 7.1078 7.7217 8.3064 8.8632 9.3936 9 2% 3% 0.9804 0.9709 1.9416 1.9135 2.8839 2.8286 3.8077 3.7171 4.7134 4.5797 5.6014 5.4172 6.4720 6.2303 7.3255 7,0197 8.1622 7.7861 8.9826 8.5302 9.7868 9.2526 10.5753 9.9540 11.3483 10.6350 12.1062 112961 12.8492 11.9379 13.5777 12.5611 14.2918 13.1661 14.9920 13.7535 15.6784 14.3238 16.3514 14.8775 19.5234 17.4131 22.3964 19.6004 27.3554 23.1148 31.4236 25.7298 5.5370 5.3282 5.6502 5.8892 6.2065 0.9434 0.9346 1.8334 1.8080 2.6730 2.6243 3.4651 3.3872 4.2124 4.1002 4.9173 4.7665 5.5824 5.3893 6.2098 5.9713 6.8017 6.5152 7.3601 7.0236 7.8869 7.4987 8.3838 7.9427 8.8527 8.3576 9.2950 8.7455 9.7122 9.1079 10.1059 9.4466 10.4773 9.7632 10.8276 10.0591 11.1581 10.3356 11.4699 10.5940 12.7834 11.6536 13.7648 12.4090 15.0463 13.3317 15.7619 13.8007 10 11 12 13 6.4924 6.7499 5.9377 6.1944 6.4235 6.6282 5.1317 5.4262 5.6869 5.9176 6.1218 6.3025 6.4624 6.6039 14 9.8986 6.9819 7.7862 8.0607 15 16 7.3667 7.6061 7.8237 7.1909 7.3792 6.8109 6.9740 8.3126 8.2442 8.5595 8.8514 9.1216 9.3719 9.6036 7.5488 7.1196 18 10.3796 10.8378 11.2741 11.6896 12.0853 12.4622 14.0939 12.1657 12.6593 13.1339 8.5436 8.0216 8.7556 8.2014 8.9501 8.3649 7.7016 7.8393 7.2497 7.3658 6.7291 6.8399 6.9380 19 13.5903 9.8181 9.1285 7.4694 7.0248 8.5136 9.0770 15.6221 9.8226 7.8431 7.3300 20 25 30 40 17.2920 15.3724 10.6748 11.2578 11.9246 10.2737 7.9633 8.4217 8.6938 8.9511 9,0417 8.0552 9.4269 9.7790 7.4957 10.7574 19.7928 21.4822 17.1591 18.2559 8.2438 8.3045 7.6344 7.6752 50 12.2335 10.9617 9.9148