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(Present value of an annuity) What is the present value of the following annuities? a. $2,000 a year for 10 years discounted back to the
(Present value of an annuity) What is the present value of the following annuities? a. $2,000 a year for 10 years discounted back to the present at 10 percent. b. $60 a year for 5 years discounted back to the present at 7 percent. c. $260 a year for 12 years discounted back to the present at 11 percent. d. $530 a year for 6 years discounted back to the present at 4 percent. a. What is the present value of $2,000 a year for 10 years discounted back to the present at 10 percent? $ (Round to the nearest cent.) b. What is the present value of $60 a year for 5 years discounted back to the present at 7 percent? $ (Round to the nearest cent.) c. What is the present value of $260 a year for 12 years discounted back to the present at 11 percent? $ (Round to the nearest cent.) d. What is the present value of $530 a year for 6 years discounted back to the present at 4 percent? $ (Round to the nearest cent.)
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