1. At the beginning of each period for 10 years, Merl Agnes invests $530 semiannually at 4%. What is the cash value of this annuity due at the end of year 10? (Do not round intermediate calculations. Round your answer to the nearest cent.) fv ?

2. Complete the following for the present value of an ordinary annuity. (Do not round intermediate calculations. Round your answer to the nearest cent.)

Amount of annuity expected	Payment	Time		Interest rate		Present value (amount needed now to invest to receive annuity)
$13,500	Quarterly	5	years	10	%