Problem 9-3 Present value (L09-3] a. What is the present value of $300,000 to be received after 30 years with a 17 percent discount rate? Use Appendix B as an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round Intermediate calculations. Round your final answer to 2 decimal places.) Present value Problem 9-17 Present value (LO9-3] The Clearinghouse Sweepstakes has just informed you that you have won $1 million. The amount is to be paid out at the rate of $70,000 a year for the next 20 years. with a discount rate of 13 percent, what is the present value of your winnings? Use Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. 415,900.00 Present value Problem 9-36 Solving for an annuity (L09-4) Morgan Jennings, a geography professor, invests $100,000 in a parcel of land that is expected to increase in value by 14 percent per year for the next seven years. He will take the proceeds and provide himself with a 20-year annuity Assuming a 14 percent interest rate, how much will this annuity be? Use Appendix A and Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Annuity value $ 37,708.76