PRESENT VALUE OF AN ANNUITY

Find thepresent valuesof theseordinary annuities. Discounting occurs once a year. Round your answers to the nearest cent.

1. $500 per year for 10 years at 16%.

$

1. $250 per year for 5 years at 8%.

$

1. $600 per year for 2 years at 0%.

$

1. Rework previous parts assuming that they areannuities due. Round your answers to the nearest cent.

$500 per year for 10 years at 16%.

$

1. $250 per year for 5 years at 8%.

$

1. $600 per year for 2 years at 0%.

$