Calculate the present value of the following:

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**a-1.** Annual payment of $775 for 10 years at 4% interest. **(Do not round intermediate calculations. Round your answer to 2 decimal places.)**

Present Value:

**a-2.** Annual payment of $575 for 15 years at 4% interest. **(Do not round intermediate calculations. Round your answer to 2 decimal places.)**

Present Value:

**a-3.** Which option would you prefer?

- $775 a year for 10 years
- $575 a year for 15 years

**b-1.** Annual payment of $775 for 10 years at 16% interest. **(Do not round intermediate calculations. Round your answer to 2 decimal places.)**

Present Value:

**b-2.** Annual payment of $575 for 15 years at 16% interest. **(Do not round intermediate calculations. Round your answer to 2 decimal places.)**

Present Value:

**b-3.** Which option would you prefer?

- $775 a year for 10 years
- $575 a year for 15 years. Get Finance homework help today