1. What is the present value of an annuity in which $100 is paid each year for 6 years, assuming a discount rate of 4% and the first payment is received one year from now?
Please round your answer to the nearest cent.
2. What is the present value of an annuity in which $100 is paid each year for 4 years, assuming a discount rate of 9% and the first payment is received one year from now?
Please round your answer to the nearest cent.
3. What is the present value of $100 paid each year forever, assuming a discount rate of 4% and the first payment is received one year from now?
Please round your answer to the nearest cent.
4. What is the present value of $400 paid each year forever, assuming a discount rate of 7% and the first payment is received one year from now?
Please round your answer to the nearest cent.