These are financial calculator problems and must adhere to a precise format. All variables (N, I/Y, PV, PMT, FV) must be listed and have a value provided (use a ? for the unknown you are solving for). For your final answer, put ? = (your answer). If you switch to BEGIN mode, you must indicate that you have done so (putting BGN is sufficient).

PLEASE FOLLOW BOLDED DIRECTIONS FOR THE ANSWER

1. What's the present value of a 6-year ordinary annuity of $4,650 per year plus an additional $2,250 at the end of Year 6 if the interest rate is 4%?

N = I/YR = PV = PMT = FV =

? =

2.

You inherited an oil well that will pay you $32,000 per year for 20 years, with the first payment being made today. If you think a fair return on the well is 6.25%, how much should you ask for it if you decide to sell it?

N = I/YR = PV = PMT = FV =

? =