Question 51 (of 70) 51 Using the appropriate present value table and assuming a 12% annual interest rate, determine the present value on December 31, 2016, of a five-period annual annuity of $4,700 under each of the following situations: (FV of $1, PV of $1, FVA of $1. PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. The first payment is received on December 31, 2017, and interest is compounded annually. Table or calculator function Payment: 4,700 5 12% 16,942 PV - 12/31/2016 2. The first payment is received on December 31, 2016, and interest is compounded annually