Consider an annuity with 17 annual payments. The first payment is $700 and each subsequent payment is $70 larger than the previous payment. Use an annual effective rate of interest of 5.6% to value the annuity. Find: (Answers to the nearest cent) The present value 1 year before the first payment. The answer to the nearest dollar is $12,616. Find the answer to the nearest cent. The present value at the time of the first payment. The accumulated value at the time of the last payment. The accumulated value 1 year after the last payment