FINANCE QUESTION

Find the present values of these ordinary annuities. Discounting occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent.

1. $600 per year for 12 years at 16%.

2. $300 per year for 6 years at 8%.

3. $700 per year for 6 years at 0%.

4. Rework previous parts assuming they are annuities due.

   Present value of $600 per year for 12 years at 16%

   Present value of $300 per year for 6 years at 8%

   Present value of $700 per year for 6 years at 0%