Question: Future value of an annuity Using the values below, answer the questions that follow. (Click on the icon here .. in order to copy the

Future value of an annuity Using the values below, answer the

Future value of an annuity Using the values below, answer the questions that follow. (Click on the icon here .. in order to copy the contents of the data table below into a spreadsheet.) Amount of annuity Interest rate Deposit period (years) $6,500 9% 9 a. Calculate the future value of the annuity, assuming that it is (1) An ordinary annuity. (2) An annuity due. b. Compare your findings in parts a (1) and a(2). All else being identical, which type of annuityordinary or annuity dueis preferable as an investment? [xplain why a. (1) The future value of the ordinary annuity is SI (Round to the nearest cent.)

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