8. An annuity-due provides 27 annual payments. The first payment is $250 and each subsequent payment increases by 4% per year. Interest is calculated at 9% per year. Calculate the present value of this annuity. \begin{tabular}{|} 3894 \\ 3916 \\ 3925 \\ 3995 \\ 4003 \\ \hline \end{tabular} 9. An annuity makes continuous annual payments at a rate of $1,000 per year for 14 years. The annual force of interest is =2%. Calculate the accumulated value of this annuity. less than 15,000 between 15,000 and 15,500 between 15,500 and 16,000 between 16,000 and 16,500 more than 16,000