C&H Ski Club recently borrowed money and agrees to pay it back with a series of six annual payments of $5,000 each. C&H subsequently borrows more money and agrees to pay it back with a series of four annual payments of $7,500 each. The annual interest rate for both loans is 6%.
1. Use Table B.1 to find the present value of these two separate annuities. (Round amounts to the nearest dollar.)
2. Use Table B.3 to find the present value of these two separate annuities. (Round amounts to the nearest dollar.)