Present Value of an Annuity Determine the present value of $300,000 to be received at the end of each of four years, using an interest rate of 6%, compounded annually, as follows: a. By successive computations, using the present value of $1 table in Exhibit 5. Round to the nearest whole dollar.

A) First Year

Second Year

Third Year

Fourth Year

Total present Value.

B) By using the present value of an annuity of $1 table in Exhibit 7. Round to the nearest whole dollar.