What's the difference between an ordinary annuity due? What type of annuity is shown here? How would you change it to the other type of annuity? What is the future value of a 3-year, exist100 ordinary annuity if the annual interest rate is 4%? What is its present value? What would the future and present values be if it was an annuity due? A 5-year exist100 ordinary annuity has an annual interest rate of 4%. What is its present value? What would the present value be if it was a 10-year annuity? What would the present value be if it was a 25-year annuity? What would the present value be if this was a perpetuity? A 20-year-old student wants to save exist5 a day for her retirement. Every day she places exist5 in a drawer. At the end of each year, she invests the accumulated savings (exist1, 825) in a brokerage account with an expected annual return of 8%. If she keeps saving in this manner, how much will she have accumulated at age 65? If a 40-year-old investor began saving in this manner, how much would he have at age 65? How much would the 40-year-old investor have to save each year to accumulate the same amount at 65 as the 20-year-old investor? What is the present value of the following uneven cash flow stream? The annual interest rate is 4%. Will the future value be larger or smaller if we compound an initial amount more often than annually (e.g., semiannually, holding the stated (nominal) rate constant)? Why? Define (a) the stated (or quoted or nominal) rate, (b) the periodic rate, and (c) the effective annual rate (EAR or EFF%). What is the EAR corresponding to a nominal rate of 4% compounded semiannually? Compounded quarterly? Compounded daily? What is the future value of exist100 after 3 years under 4% semiannual compounding? Quarterly compounding