Using the appropriate present value table and assuming a 12% annual interest rat

Question

Using the appropriate present value table and assuming a 12% annual interest rate, determine the present value on December 31, 2011, of a five-period annual annuity of $5,000 under each of the following situations.

The first payment is received on December 31, 2012, and interest is compounded quarterly.

PV
First Payment______________
Second Payment____________
Third Payment______________
Fourth Payment_____________
Fifth Payment_______________
Total__________________

The first part of the answer I got which is:

(1)

The first payment is received on December 31, 2012, and interest is compounded annually.$18024

(2)

The first payment is received on December 31, 2011, and interest is compounded annually. $20187

Serious answers please

Explanation / Answer

I thought all five payments were supposed to be $5000? in that case all you need to know is that the present value is: 17780.59 and the annual interest earnings will be: 2231.62 1884.17 1493.10 1052.95 557.56 ----------- 7219.41

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