12. a. Assume you wish to save money on a regular basis to finance an exotic vacation in Dubai in the next 7 years. You are confident that, with sacrifice and discipline, you can force yourself to deposit $2,000 annually at the end of each period for the next 7 years into a savings account. If the savings account is paying 12%, calculate the future value of this annuity. (4 Marks)

b. What would be the value if part a above were a future value annuity due? (2 Marks)