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Suppose you are going to receive $22,000 per year for 8 years. The appropriate interest rate is 7 percent. a. What is the present value

Suppose you are going to receive $22,000 per year for 8 years. The appropriate interest rate is 7 percent.


a.	What is the present value of the payments if they are in the form of an ordinary annuity?

Suppose you are going to receive $22,000 per year for 8 years. The appropriate interest rate is 7 percent.


a.	What is the present value of the payments if they are in the form of an ordinary annuity?

b.	What is the present value if the payments are an annuity due?

b.	What is the present value if the payments are an annuity due?

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