C&H Ski Club recently borrowed money and agreed to pay it back with a series of six annual payments of $14,000 each. C&H
subsequently borrows more money and agrees to pay it back with a series of four annual payments of $14.000 each. The annual
interest rate for both loans is 7%. Find the present value of these two separate annuities. (PV of $1. FV of $1. PVA of $1, and FVA of $1)
(Use appropriate factor(s) from the tables provided. Round your answers to nearest whole dollar. Round "Table Factor" to 4
decimal places.)
Number of
Periods
1
Interest
Rate
7%
Table Factor
Amount
Borrowed
2
7%
First Annuity
Single Future
х
Payment
$ 14,000
14,000
14,000 x
14,000 x
14,000
14,000
3
7%
First payment
Sec payment
Third payment
Fourth payment
Fifth payment
Sixth payment
11
4
7%
5
7%
7%
1111
6
Number of
Periods
Table Factor
Amount
Borrowed
1
Second Annuity.
Interest Single Future
Rate Payment
7% $ 14,000 x
7%
14,000 x
7%
14,000 x
7%
14,000 x
First payment
Second payment
Third payment
Fourth payment
2
IIIIII
3
4