Question: Problem 5-26 Annuity Values (LO3) a. what is the present value of a 3-year annuity of $270 if the discount rate is 7%? (Do not

Problem 5-26 Annuity Values (LO3) a. what is the present value

Problem 5-26 Annuity Values (LO3) a. what is the present value of a 3-year annuity of $270 if the discount rate is 7%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value 708.57 b. What is the present value of the annuity in (a) if you have to wait an additional year for the first payment? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Present value

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