# 6.1 HW 2 - 2. Award: 0 out of 33.33

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2. Award: 0 out of 33.33 points Using the appropriate present value table and assuming a 12% annual interest rate, determine the present value on December 31, 2016, of a five­period annual annuity of \$7,700 under each of the following situations: (FV of \$1,PV of \$1,FVA of \$1,PVA of \$1,FVAD of \$1andPVAD of \$1)(Use appropriate factor(s) from the tables provided.) 1.The first payment is received on December 31, 2017, and interest is compounded annually. Table or calculator function: Payment: n = i = PV ­ 12/31/2016: 2.The first payment is received on December 31, 2016, and interest is compounded annually. Table or calculator function: Payment: n = i = PV ­ 12/31/2016: 3.The first payment is received on December 31, 2017, and interest is compounded quarterly.

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