Problem 5-15 Present value of an annuity

Find the present values of these ordinary annuities. Discounting occurs once a year. Round your answers to the nearest cent.

1. $500 per year for 16 years at 6%.

   $

2. $250 per year for 8 years at 3%.

   $

3. $800 per year for 14 years at 0%.

   $

   Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent.

4. $500 per year for 16 years at 6%.

   $

5. $250 per year for 8 years at 3%.

   $

6. $800 per year for 14 years at 0%.

   $