annually UI ile ullum FUTURE VALUE: ANNUITY VERSUS ANNUITY DUE What's the future value of a 7%, 5-year ordinary annuity that pays $300 each year? If this was an annuity due, what would its future value be? RETURN EARNED ON ANNUITY Lin Shan is about to retire and is exploring the possibility of investing a lump sum in an annuity so that she gets 50% of her last drawn salary at the end of every month for 15 years. She esti- mates her last-drawn salary to be 60,000. The quotation she obtained la o intrect lum cum of 1 million