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) $ 11,862.72 $ 900 Annually 4 years 6 % TABLE 13-2 Present value of an annuity of $1 2% 3% 4% 6% 7% 8% 9% 10% 11% 12% 13% Period 1 0.8929 2 3 0.9709 1.9135 2.8286 0.9615 1.8861 2.7751 1.6901 2.4018 0.8850 1.6681 2.3612 0.9804 1.9416 2.8839 3.8077 4.7134 5.6014 3.7171 3.6299 2.9745 3.0373 3.6048 4.4518 5 6 4.5797 5.4172 5.2421 7 5% 0.9524 1.8594 2.7232 3.5459 4.3295 5.0757 5.7864 6.4632 7.1078 7.7217 8.3064 8.8632 9.3936 9.8986 10.3796 3.5172 3.9975 4.4226 4.7988 6.0021 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 8 9 5.1317 10 5.4262 5.6869 11 12 6.7327 7.4353 8.1109 8.7605 9.3851 9.9856 10.5631 11.1184 11.6523 5.9176 0.9434 0.9346 1.8334 1.8080 2.6730 2.6243 3.4651 3.3872 4.2124 4.1002 49173 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 0.9174 0.9091 0.9009 1.7591 17355 1.7125 2.5313 2.4869 2.4437 3.2397 3.1699 3.1024 3.8897 3.7908 3.6959 4.4859 4.3553 4.2305 5.0330 4.8684 4.7122 5.5348 5.3349 5.1461 5.9952 5.7590 5.5370 6.4177 6.1446 5.8892 6.8052 6.4951 6.2065 7.1607 6.8137 6.4924 7.4869 7.1034 6.7499 7.7862 7.3667 6.9819 8.0607 7.6061 7.1909 8.3126 7.8237 7.3792 8.5436 8.0216 7.5488 8.7556 8.2014 7.7016 8.9501 8.3649 7.8393 9.1285 8.5136 7.9633 9.8226 9.0770 8.4217 10.2737 9.4269 8.6938 10.7574 9.7790 8.9511 10.9617 9.9148 9.0417 13 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 11.2961 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 14 8.2442 8.5595 4.1114 4.5638 4.9676 5.3282 5.6502 5.9377 6.1944 6.4235 6.6282 6.8109 6.9740 7.1196 7.2497 73658 7.4694 7.8431 8.0552 8.2438 8.3045 6.1218 6.3025 6.4624 6.6039 15 16 17 18 19 20 10.8378 8.8514 6.7291 6.8399 6.9380 12.1657 112741 12.6593 11.6896 13.1339 12.0853 13.5903 12.4622 15.6221 14.0939 17.2920 15.3724 19.7928 17.1591 21.4822 18.2559 9.1216 9.3719 9.6036 9.8181 10.6748 11.2578 11.9246 25 30 7.0248 7.3300 7.4957 7.6344 7.6752 40 50 12.2335