Please answer all parts and show all work, do not use excel. Please show work in a way where I can easily follow your steps and duplicate with different numbers. The answer key is at the bottom, so any answer you get must match that of one of the answer choices to be correct. Thanks!

1.Find the present value of a 20-year annuity with annual payments which pays $600 today and each subsequent payment is 5% greater than the preceding payment. The annual effective rate of interest is 10.25%.

2. Find the accumulate value at the end of year 10 of a 10-year annuity with annual payments which pays $1000 in one year and each subsequent payment is 3% less than the preceding payment. The annual effective rate of interest is 5%

Numerical answers (in random order): 11143.38, 67.82, 25514.59, 2084.67, 50.46, 67.27, 200, 7851.19, 15, 13940.93, 161.21, 0.1667 Numerical answers (in random order): 11143.38, 67.82, 25514.59, 2084.67, 50.46, 67.27, 200, 7851.19, 15, 13940.93, 161.21, 0.1667