You have a partnership stake in a business that pays you equal payments of $$3,000$ at the end of each year for the next nine years. If the annual

interest rate stays constant at $8\%,$ what is the value of these payments in today's dollars? Round your answer to the nearest whole dollar.

$$15,930$

$$20,240$

$$18,741$

$$23,426$

You found out that now you are going to receive payments of $$9,500$ for the next $12$ years. You will receive these payments at the beginning of each

year. The annual interest rate will remain constant at $16\%.$ What is the present value of these payments? Round your answer to the nearest whole

dollar.

$$77,319$

$$49,373$

$$57,273$

$$45,818$