present value

What is the present value of a 3-year annuity of $250 if the discount rate is 6%? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Present value $
b.

What is the present value of the annuity in (a) if you have to wait 2 years instead of 1 year for the first payment? (Round your intermediate and final answers to 2 decimal places.)
Present value $

 

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