9 Present value of an annuity Consider the following case. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet) Amount of annuity Interest rate Period (years) $37,000 9% a. Calculate the present value of the annuity assuring that it is (1) An ordinary annuity (2) An annuity due b. Compare your findings in parts (1) and (2). All else being identical, which type of annuity ordinary or annuity due-is preferable? Explain why The present value of the ordinary annuity is $(Round to the nearest cont) 10