An ordinary annuity consists of quarterly payments of $400 for 11 years. Based on a nominal rate

Question:

An ordinary consists of quarterly payments of $400 for 11 years. Based on a nominal rate of 6.5% compounded annually, calculate the annuity’s:
a. Present value.
b. Future value.
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...