2. Calculate the following items using m-thly annuity formula and describe in words (1) Payment frequency: (2) Payment amount per period; (3) Number of payments; (4) Interest compounding frequency: (5) effective rate of interest per payment period. Then recalculate each item using information in (2), (3) and (5) and basic annuity formula to see if you get the same answers. (a) 500 given i = 0.05. (b) 100 given (12) = 0.06. given (0) = 0.12 given i = 0.052 (e) 100 (42 (d) 15632 2. Calculate the following items using m-thly annuity formula and describe in words (1) Payment frequency: (2) Payment amount per period; (3) Number of payments; (4) Interest compounding frequency: (5) effective rate of interest per payment period. Then recalculate each item using information in (2), (3) and (5) and basic annuity formula to see if you get the same answers. (a) 500 given i = 0.05. (b) 100 given (12) = 0.06. given (0) = 0.12 given i = 0.052 (e) 100 (42 (d) 15632