Question: (Present value of an annuity due) Determine the present value of an annuity due of $7,000 per year for 8 years discounted back to

(Present value of an annuity due) Determine the present value of an

(Present value of an annuity due) Determine the present value of an annuity due of $7,000 per year for 8 years discounted back to the present at an annual rate of 12 percent. What would be the present value of this annuity due if it were discounted at an annual rate of 17 percent? a. If the annual discount rate is 12 percent, the present value of the annuity due is $ (Round to the nearest cent.) b. If the annual discount rate is 17 percent, the present value of the annuity due is $ (Round to the nearest cent.)

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