1. An annuity immediate makes 10 annual payments with an annual effective interest rate of 6.5%. The first payment is $150 and each subsequent payment decreases by $5.

a. Find the present value

b. Find the future value

2. An annuity due makes 6 biannual payments with a nominal biannual interest rate of 5%. The first payment is $80 and each subsequent payment increases by 20.

a. Find the present value

b Find the future value