Find the present value of an annuity that pays $1,000 at the end of each year for

Question:

Find the present value of an annuity that pays $1,000 at the end of each year for 5 years if the appropriate discount rate is 15%. Calculate the future value of that same annuity.

How would the PV / FV change if the annuity changed from an ordinary annuity to an annuity due (Use the previous problem)?

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,... Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal... Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...