A) Find the PV of an ordinary annuity that pays $1,000 each of the next 5 years if the interest rate is 16%. Then find the FV of that same annuity. Round your answers to the nearest cent.

PV of ordinary annuity: $

FV of ordinary annuity: $

B) How will the PV and FV of the annuity in part A change if it is an annuity due rather than an ordinary annuity? Round your answers to the nearest cent.

PV of annuity due: $

FV of annuity due: $

Answer rating: 100% (QA)

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