Present value of an annuity
Find the present values of these ordinary annuities. Discounting occurs once a year. Round your answers to the nearest cent.
a. $400 per year for 14 years at 12%.
b. $200 per year for 7 years at 6%.
c. $700 per year for 4 years at 0%.
Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent.
d. $400 per year for 14 years at 12%.
e. $200 per year for 7 years at 6%.
f. $700 per year for 4 years at 0%.