Calculate the present value of the following: a-1. Annual payment of $1,175 for 11 years at 4% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.) a-2. Annual payment of $975 for 16 years at 4% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.) a-3. Which option would you prefer? b-1. Annual payment of $1,175 for 11 years at 16% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b-2. Annual payment of $975 for 16 years at 16% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b-3. Which option would you prefer?
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a-1. Annual payment of $1,175 for 11 years at 4% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
a-2. Annual payment of $975 for 16 years at 4% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
a-3. Which option would you prefer?
b-1. Annual payment of $1,175 for 11 years at 16% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
b-2. Annual payment of $975 for 16 years at 16% interest. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
b-3. Which option would you prefer?
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