4. Present Value of an Annuity. What is the present value of

4. Present Value of an Annuity. What is the present value of

a. $387 a year for 5 years at a 9 percent discount rate?

b. $798 a year for 13 years at a 11 percent discount rate?

c. $754 a year for 11 years at a 11 percent discount rate?

d. $550 a year for 8 years at a 11 percent discount rate? CLICK HERE FOR THE SOLUTION