Check My Work (3 remaining) eBook Problem 7-20 You are offered an annuity that will pay $8,000 a year for twelve years that is, twelve payments), but the payments start after four years have elapsed. If you want to earn 9 percent on your funds, what is the maximum you should pay for this annuity? Use Appendix B and Appendix D to answer the question. Round your answer to the nearest dollar. F Interest Factors for the Present Value of One Dollar ecent med Files you want en you haver , | 0 4 ) 4 91 | sterday 50 61 403 APP SWOT 9 2 Goddard Downloads nww u , | *, Goddard B 38 33 | | This Week Budget a Summary 32 Budget a W ulunya UURSUITCAP D.JPG Interest Factors for the Present Value of an Annuity of One Dollar Time Period ee 1 Z 3 4 5 1% 2% 3% 4% 5 9% 10% 12% 14% 16% 18% 20% 24% 28% 32% 36% 0.990 0,980 0,971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.893 0.877 0.862 0.847 0.833 0.806 0.781 0.758 0.735 1970 1.942 1913 1.886 1859 1.833 1.808 1.783 1.759 1.736 1.690 1.647 1.605 1.566 1.528 1.457 1.392 1.332 1.276 2.941 2.884 2.829 2.775 2.723 2673 2.624 2.577 2.531 2.487 2.402 2.322 2.246 2.174 2.106 1981 1.868 1.766 1.674 3.902 3.808 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.798 2.690 2.589 2.404 2.241 2.096 1.966 4.853 4.713 4.580 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.605 3.433 3.274 3.127 2.991 2.745 2.532 2.345 2.181 6 5.795 5.601 5.417 5.242 5.076 4.917 4.766 4623 4.486 4.355 4.111 3.889 3.685 3.498 3.326 3.020 2.759 2.534 2.399 7 6.728 6.472 6.230 6.002 5.786 5.582 5.389 5.206 5.033 4.868 4.564 4.288 4.039 3.812 3.605 3.242 2.937 2.678 2.455 8 7.652 7.325 7020 6.733 6.463 6.210 5.971 5.747 5.535 5.335 4.968 4,639 4.344 4.078 3.837 3.421 3.076 2.786 2.540 9 8.566 8.162 7.786 7.435 7108 6.802 6.515 6.247 5.985 5.759 5.328 4 946 4.607 4.303 4.031 3.566 3.184 2.868 2.603 109.471 8.983 8.530 8.111 77227.360 7.024 6.710 6.418 6.145 5.650 5.216 4.83) 4.494 4.1933 .682 3.269 2.930 2.650 11 12 13 14 15 10.368 9.787 9.253 8.760 8.30678877.499 2.130 6.805 6.495 5.988 5.453 5.029 4.656 4.327 3.776 3.335 2978 2.683 11.255 10 575 9.954 9.385 8863 8.384 7.943 7536 71616.814 6.1945.660 5.197 4.793 4.439 3.851 3.387 3.013 2.708 12.134 11.348 10.6359.986 9.394 8.534 8.358 7904 7487 7.103 6.424 5.842 5.342 4.910 4.533 3.912 3.427 3.040 2.727 13.004 12.106 11.296 10.563 9.899 9.295 8.745 8.244 7786 7 367 6628 6.0025.468 5.008 4.6113.962 3.459 3.061 2.740 13.865 12.849 11.938 11.118 10 380 9.712 9.108 8.559 8.060 7.606 6.811 6.142 5.575 5.092 4.675 4.001 3.483 3.076 2.750 16 14.718 13.578 12.561 11.652 10 838 10.106 9.447 8.851 8.3127824 6974 6.265 5669 5.1624.730 4.003 3.5033088 2.758 17 15.562 14 292 13.166 12.166 11 274 10.477 9.763 9.122 8544 800271206.373 5.7495 222 4.7754059 3.518 3097 2.763 18 16 398 14.992 13.754 12.659 11.690 10 828 10.0599.372 8.756 8.2017.250 6.467 5.818 5.273 4.8124.080 3.529 3104 2.767 19 17226 15.678 14.324 13.134 12085 11.158 10 336 9604 8.950 8.365 7.366 6.550 5.877 5.316 4.8.44 4.097 3.5393.109 2.770 2018.046 16 351 14.877 13.590 12.462 11 470 10.594 9.818 9.128 8.514 7.469 6,623 5.929 5.353 4.870 4.110 3.546 3.113 2.772 25 22 023 19 523 17.413 15.622 14 094 12.783 11654 10.675 9.823 907778436.8736 097 5.467 4.948 4.147 3.564 3.1222.776 30 25.808 22.937 19.600 17.292 15373 13.765 12.409 11.258 10.274 9.427 3.055 7003 6.177 5517 4979 4.160 3.56 3.124 2.778