An annuity consists of end-of-month payments of $150 continuing for 6 1/2 years. Based on a nominal

Question:

An consists of end-of-month payments of $150 continuing for 6 1/2 years. Based on a nominal rate of 10% compounded quarterly, 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,...