How much would you have to invest today to receive: Use Appendix B or Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.

a.	$15,500 in 12 years at 11 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Present value

$

b.	$20,000 in 19 years at 7 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Present value

$

c.	$8,100 each year for 18 years at 15 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Present value

$

d.	$56,000 each year for 25 years at 8 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Present value

$