Question: Future Value: Ordinary Annuity versus Annuity Due What is the future value of an 8%, 5-year ordinary annuity that pays $550 each year? Do not

Future Value: Ordinary Annuity versus Annuity Due

What is the future value of an 8%, 5-year ordinary annuity that pays $550 each year?

Do not round intermediate calculations.

Round your answer to the nearest cent. $ __________

If this were an annuity due, what would its future value be?

Do not round intermediate calculations. Round your answer to the nearest cent. $_________

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