(Related to Checkpoint 6.2) (Present vahie of an ordinary annuity) Nick Johnson, a sophomore mochanicat engineering student, receives a call from an irsurance agent who belleves that Nicki is an older woman who is ready to retire from teaching. He talks to her about several annuities that she could buy that would guarantee her a fired annual income Tha annutios are as follows. Nicku could eam 11 percent on her money by placing it in a savinge account. AYecratively, she cocild place it in any of the above annuities : Which annulfies in tha table above. HI any. will earn Nick a higher roturn than investing in the savings account eaming 11 percent? a. If Nicia could eam 11 percent on her money, what is the present value of annuily A whh $8,590 payments per year and 12 years duration? (Round to the nearest cent.)