5-6A. (Present value of an annuity) What is the present value of the following annuities?

5-6A. (Present value of an annuity) What is the present value of the following annuities?a. $2,500 a year for 10 years discounted back to the present at 7 percentb. $70 a year for 3 years discounted back to the present at 3 percentc. $280 a year for 7 years discounted back to the present at 6 percentd. $500 a year for 10 years discounted back to the present at 10 percent

5-6A. (Present value of an annuity) What is the present value of the following annuities?a. $2,500 a year for 10 years discounted back to the present at 7 percentb. $70 a year for 3 years…

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