11 of 15 (13 complete) HW Score: 53.97%, 3 Question He P5-19 (similar to) Future value...
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11 of 15 (13 complete) HW Score: 53.97%, 3 Question He P5-19 (similar to) Future value of an annuity Using the values below, answer the questions that follow. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet) a. Calculate the future value of the annuity, assuming that it is (1) An ordinary annuity. (2) An annuity due. Amount of annulty $1,000 Interest rate 8% Deposit period (years) 8 b. Compare your findings in parts a(1) and a(2). All else being identical, which type of annuity-ordinary or annuity due is preferable as an investment? Explain why. a. (1) The future value of the ordinary annuity is $ (Round to the nearest cent.) Enter your answer in the answer box and then click Check Answer. 11 of 15 (13 complete) HW Score: 53.97%, 3 Question He P5-19 (similar to) Future value of an annuity Using the values below, answer the questions that follow. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet) a. Calculate the future value of the annuity, assuming that it is (1) An ordinary annuity. (2) An annuity due. Amount of annulty $1,000 Interest rate 8% Deposit period (years) 8 b. Compare your findings in parts a(1) and a(2). All else being identical, which type of annuity-ordinary or annuity due is preferable as an investment? Explain why. a. (1) The future value of the ordinary annuity is $ (Round to the nearest cent.) Enter your answer in the answer box and then click Check Answer.
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