[1/2 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.4.035. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER As the contestant with the longest winning streak in the history of Jeopardy, Ken Jennings won more than $2.5 million. Suppose he invested $1.4 million in an ordinary annuity that earned 7.2%, compounded monthly. How much would he receive at the end of each month for the next 15 years? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) $ Need Help? Read It Talk to a Tutor [-/1 Points] DETAILS HARMATHAP12 6.4.046. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the present value of an annuity of $3000 per year at the end of each of 10 years after being deferred for 4 years, if money is worth 5% compounded annually. (Round your answer to the nearest cent.) Need Help? Read It Talk to a Tutor [-/1 Points] DETAILS HARMATHAP12 6.4.051. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Danny Metzger's parents invested $1900 when he was born. This money is to be used for Danny's college education and is to be withdrawn in four equal annual payments beginning when Danny is age 19. Find the amount that will be available each year, if money is worth 5%, compounded annually. (Round your answer to the nearest cent.) $ Need Help? Read It Talk to a Tutor