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You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $101 (first payment made at t=1 ), followed by five annual payments of $407, followed by four annual payments of $726. How much did you borrow? Round your answer to 2 decimal places; record your answer without commas and without a dollar sign. Your Answer: Answer Question 7 ( 6.66 points) Compute the present value of an annuity of $548 per year for 15 years, given a discount rate of 9 percent per annum. Assume that the first cash flow will occur one year from today (that is, at t=1 ). Round your answer to 2 decimal places; record your answer without commas and without a dollar sign