Periods	Present Value of Ordinary Annuty at 9%
14	7.78615
15	8.06069
16	8.31256

1. How much must be invested now to receive $30,000 for 15 years if the first $30,000 is received today and the rate is 9%?

2. Determine the market price of a $252,000, 10-year, 10% (pays interest semiannually) bond issue sold to yield an effective rate of 10%. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) (Using the present value of an ordinary annuity of 1 table)