Find the Present Value of a $100 annuity received for 3 years. Assume a 5% discount rate. a) Calculate the combined PV of the 3 payments by adding the single sum of each payment together (FV=$100, n=1,i/y=5 PV=X) + (FV=$100,n=2,i/y=5, PV=X) + etc... b) Now use the PMT function to calculate the value of the annuity. You should get the same answer! List the two main characteristics of an ordinary annuity