You agree to take out a loan from the bank and receive funds today. The loan has the following terms:

One year from today you will make a payment of $6,000 to the bank;

Two years from today you will receive $2,000 from the bank;

Three years from today you will make a payment of $7,000 to the bank.

If the interest rate is 4.7%, what is the size of the loan (pv) you will receive today from the bank?

Enter you answer as a positive number rounded to 2 decimal places.

The present value of an ordinary annuity is $2,000. If the cost of capital is 7%, what would be the present value if the first payment were not received until the end of year 9?

What is the present value of an ordinary annuity that pays $13,000 annually for 11 years with the first payment being made one year from today? Assume a cost of capital of 9%.

Round your answer to 2 decimal places.