You got into a car accident and settled out of court for equal payments of $1,000 at the end of each year for the next nine years. If the annual interest rate stays constant at 6%, what is the value of these payments in todays dollars? (Note: Round your answer to the nearest whole dollar.) $5,782 $8,503 $7,210 $6,802

You found out that now you are going to receive payments of $7,000 for the next 12 years. You will receive these payments at the beginning of each year. The annual interest rate will remain constant at 14%. What is the present value of these payments? (Note: Round your answer to the nearest whole dollar.) $45,169 $36,135 $39,622 $60,978