Finance -
1. What is the present value of an annuity in which $400 is paid each year for 9 years, assuming a discount rate of 7% and the first payment is received one year from now? Please round your answer to the nearest cent.
2. What is the present value of an annuity in which $500 is paid each year for 6 years, assuming a discount rate of 8% and the first payment is received one year from now? Please round your answer to the nearest cent.
3. What is the present value of $400 paid each year forever, assuming a discount rate of 11% and the first payment is received one year from now? Please round your answer to the nearest cent.
4. What is the present value of $500 paid each year forever, assuming a discount rate of 8% and the first payment is received one year from now? Please round your answer to the nearest cent.