Problem $5-46$ Calculating Annuities Due $[$LO $11]$

Suppose you are going to receive $$14,500$ per year for five years. The appropriate interest rate is $8$ percent.

a$-1.$ What is the present value of the payments if they are in the form of an ordinary annuity?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

a$-2.$ What is the present value of the payments if the payments are an annuity due?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$-1.$ Suppose you plan to invest the payments for five years, What is the future value if the payments are an ordinary annuity?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

b$-2.$ What is the future value if the payments are an annuity due?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

$c-1.$ Which has the higher present value, the ordinary annuity or annuity due?

c$-2.$ Which has the higher future value?

$\backslash$table$[[$a$-1.$ Present value of ordinary annuity,$$,57,894\mathrm{.}30$