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(Present value of an annuity due) Determine the present value of an annuity due of $5,000 per year for 8 years discounted back to the

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(Present value of an annuity due) Determine the present value of an annuity due of $5,000 per year for 8 years discounted back to the present at an annual rate of 7 percent. What would be the present value of this annuity due if it were discounted at an annual rate of 12 percent? a. If the annual discount rate is 7 percent, the present value of the annuity due is $. (Round to the nearest cent.)

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