Question: Problem 4. Future Value and Present Value of an Annuity. 10 points. Find the amount of each ordinary annuity: a) future value of 8800 per

Problem 4. Future Value and Present Value of an Annuity. 10

Problem 4. Future Value and Present Value of an Annuity. 10 points. Find the amount of each ordinary annuity: a) future value of 8800 per bimonthly period for 10 years at 3.5% interest rate per year com- pounded semiannually. b) present value of $3000 per semiannual period for 15 years at 5.1% interest rate per year compounded biweekly. Solution: (b)

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