$($PLEASE ANSWER THE FOLLOWING QUESTION USING THE IMAGE PROVIDED AND THE NUMBERS PROVIDED$)$Assuming a $12\%$ annual interest rate, determine the present value of a five$-$period annual annuity of $$2,900$ under each of the

following situations:

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

The payments are received at the end of each of the five years and interest is compounded annually.

The payments are received at the beginning of each of the five years and interest is compounded annually.

The payments are received at the end of each of the five years and interest is compounded quarterly.

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The payments are received at the end of each of the five years and interest is compounded quarterly.

Note: Round your final answers to nearest whole dollar amount.Assuming a $12\%$ annual interest rate, determine the present value of a five$-$period annual annuity of $$2,900$ under each of the following situations:

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

The payments are received at the end of each of the five years and interest is compounded annually.

The payments are received at the beginning of each of the five years and interest is compounded annually.

The payments are received at the end of each of the five years and interest is compounded quarterly.