You purchase a boat for $35,000 and pay $5,000 down. You also agree to pay the rest over the next 10 years in 10 equal end-of-the year payments plus 13 percent compound interest on the unpaid balance. What will be the amount of each payment? 5-6.(Present value of an annuity) What is the present value of the following annuities? a.$2,500 a year for 10 years discounted back to the present at 7 percent b.$70 a year for 3 years discounted back to the present at 3 percent c.$280 a year for 7 years discounted back to the present at 6 percent d.$500 a year for 10 years discounted back to the present at 10 percent