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A monthly payment of $500 lasts for one year with first payment on January 1, 2020 and last payment on December 1, 2020. Under nominal

A monthly payment of $500 lasts for one year with first payment on January 1, 2020 and last payment on December 1, 2020. Under nominal compound discount rated(12)= 6%.(a) What is the value of this annuity on January 1, 2021? Keep two decimal places. (Using formula calculation)(b) What is the value of this annuity on December 1, 2020? Keep two decimal places. (Using formula calculation)

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