Suppose an annuity due makes 5 payments of $3,500 and has a discount rate of 8.5%. What is the present value?

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Suppose an annuity due makes 5 payments of $3,500 and has a discount rate of 8.5%. What is the present value of this annuity due? Round to the nearest cent.


I've already tried the answers:


16641.73 and 13792.25 and neither were correct. How do I go about inputting this into my calculator and what's the right answer?

Suppose an annuity due makes 5 payments of $3,500 and has a discount rate of 8.5%. What is the present value?