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1. a) (Future value of an ordinary? annuity) What is the future value of ?$490 per year for 8 years compounded annually at 10 ?percent?

1. a) (Future value of an ordinary? annuity) What is the future value of ?$490 per year for 8 years compounded annually at 10 ?percent? (Round to the nearest? cent.)

b) (Present value of an ordinary? annuity)?What is the present value of ?$3500 per year for 10 years discounted back to the present at 11 ?percent? (Round to the nearest? cent.)

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