Your grandfather has offered you a choice of one of the three following alternatives: $$10,000$ now; $$4,800$ a year for seven years; or

$$62,000$ at the end of seven years. $($Use a Financial calculator to arrive at the answers. Round the final answers to the nearest

whole dollar.$)$

a$-1.$ Assuming you could earn $13$ percent annually, compute the present value for the following amounts.

a$-2.$ Which alternative should you choose?

$$62,000$ received at the end of seven years

$$4,800$ received each year for seven years

$$10,000$ received now

b$-1.$ If you could earn $14$ percent annually, compute the present value for the following amounts.

b$-2.$ Which alternative should you choose?

$$62,000$ received at the end of seven years

$$4,800$ received each year for seven years

$$10,000$ received now