Question: (Present value of an annuity due) Determine the present value of an annuity due of $2,000 per year for 8 years discounted back to the

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

(Present value of an annuity due) Determine the present value of an annuity due of $2,000 per year for 8 years discounted back to the present at an annual rate of 15 percent. What would be the present value of this annuity due if it were discounted at an annual rate of 20 percent? a. If the annual discount rate is 15 percent, the present value of the annuity due is $ (Round to the nearest cent.) b. If the annual discount rate is 20 percent, the present value of the annuity due is $. (Round to the nearest cent.)

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