Suppose the term structure of risk-free interest cates is shown below Term Rate (EAR 1 year 2 years 3 years 5 years 199 241 3.32 7 years 10 years 20 years 376 413 14.93 What is the present value of an investment that pays $100 at the end of each of years 1, 2 and 32 If you wanted to value this investment correctly using the annuity formula, which discount rate should you use? The present value of the investment is 5285 61 (Round to the nearest cent) To value this investment correctly using the annuity formula, use the discount rate (Round to five decimal places)