Question 2 4 pts An annuity pays $1 at the end of the first year, $4 at the end of the fourth year, $7 at the end of the seventh year. $10 at the end of the tenth year and so on until it ends by paying $22 at the end of the twenty-second year. Determine the present value of this annuity at an effective annual interest rate of 8%. Hint: a timeline will be helpful $28.50 0 $30.50 $32.50 $34.50 Question 3 4 pts An investor is selling an apartment building and decides to base the asking price on the present value of 10 years of expected rent to be collected from all of the tenants. The investor will receive $200,000 in rent at the end of this year. She expects the rent to increase by 3.0% per year. Assuming an annual interest rate of 10%, what is the price of the building? $1376.750