Q1) What will be the difference in the present values of the two annuities below if the annual interest rate is 8%:

Annuity A will pay $100,000 at each year-end over the next 20 years

Annuity B will pay $100,000 at the start of each year over the next 20 years

a) $78,545.18

b) $84,828.79

c) $104,312.48

d) $0

e) None of the above

Q2) A property bought 9 years ago for $500,245 is priced today at $1,000,000. What has been the annual growth rate of the property's price?

a) 12%

b) 10%

c) 8%

d) 6%

e) None