use formula

27. Compute the present values of the following first assuming that payments are made on the last day of the period and then assuming payments are made on the first day of the period: (LG 2-9) Present Value Present Value (Payment (Payment made on made on last day of first day of period) period) Years Payment $ 678.09 7,968.26 20,322.93 69,712.54 7 13 23 4 Interest Rate 13% 6 4 31