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.
