You won a lottery that will make equal payments of $1,000 at the end of each year for the next four years. If the annual interest rate stays constant at 7%, what is the value of these payments in todays dollars? Round your answer to the nearest whole dollar.

A) $3,387

B) $2,879

C) $4,234

D) $3,624

You found out that now you are going to receive payments of $10,000 for the next 17 years. You will receive these payments at the beginning of each year. The annual interest rate will remain constant at 12%. What is the present value of these payments? Round your answer to the nearest whole dollar.

A) $63,792

B) $79,740

C) $107,649

D) $71,196