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Amount of annuity $44,000 Interest rate 11% Period (years) 8 a. Calculate the present value of the annuity assuming that it is (1) An ordinary

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Amount of annuity $44,000 Interest rate 11% Period (years) 8 a. Calculate the present value of the annuity assuming that it is (1) An ordinary annuity. (2) An annuity due b. Compare your findings in parts a(1) and a(2). All also being identical, which type of annuity-ordinary or annuity duo is preferable? Explain why. The present value of the ordinary annuity is $ (Round to the nearest cont.)

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