(Rainted to Checkpoint 6.2) (Present value of an ordinary annuity) What is the present value of $3,500 per year for 8 years discounded back to the present at 11 percent? The present value of 59,500 per year for 8 years discounted back to the present at 11 percent is 5 (Round to the nearest cene) (Rainted to Checkpoint 6.2) (Present value of an ordinary annuity) What is the present value of $3,500 per year for 8 years discounded back to the present at 11 percent? The present value of 59,500 per year for 8 years discounted back to the present at 11 percent is 5 (Round to the nearest cene)