Calculate the present value of the following annuity streams: $5,000 received each year for 5 years on the last day of each year if your investments pay 6 percent compounded annually. $5,000 received...

Calculate the present value of the following annuity streams:

1. $5,000 received each year for 5 years on the last day of each year if your investments pay 6 percent compounded annually.


2. $5,000 received each quarter for 5 years on the last day of each quarter if your investments pay 6 percent compounded quarterly.