Exercise $6-17($Algo$)$ Present value calculations Appendix LO $6-10$

Using a present value table $($Table $6-4$ and Table $6-5),$ calculate the present value for the following:

Note: Use the appropriate value$($s$)$ from the tables provided and final answers to the nearest whole dollar.

Required:

a$.$ A car down payment of $$9,600$ that will be required in two years, assuming an interest rate of $10\%.$

b$.$ A lottery prize of $$20\mathrm{.}4$ million to be paid at the rate of $$1,020,000$ per year for $20$ years, assuming an interest rate of $10\%.$

c$.$ The same annual amount as in part b$,$ but assuming an interest rate of $14\%.$

d$.$ A financing lease obligation that calls for the payment of $$30,000$ per year for $10$ years, assuming a discount rate of $8\%.$