step by step

Solve the following problems and upload the file ( 2 marks each) 1. What is the future value of a Five year ordinary annuity with a cash flow of $120 per year, earning 8% ? 2. What is the future value of a Five year annuity due with a cash flow of $300 per year, earning 8% ? 3. To pay for your child's education, you wish to have accumulated RM15,000 at the end of 15 years. To do this, you plan on depositing an equal amount into the bank at the end of each year. If the bank is willing to pay 6% compounded annually, how much must you deposit each year to reach your goal? 4. If you were offered RM1,079.50, 10 years from now in return for an investment of RM500 currently, what annual rate of interest would you earn if you took the offer