(Compound annuity) What is the accumulated sum of each of the following streams of payments?

a. $520 a year for 9 years compounded annually at 11 percent.

b. $104 a year for 7 years compounded annually at 9 percent.

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Part 1

a. What is the accumulated sum of $520 a year for 9 years compounded annually at 11 percent?

$____enter your response here

(Round to the nearest cent.)

b. What is the accumulated sum of $104 a year for 7 years compounded annually at 9 percent?

$____enter your response here

(Round to the nearest cent.)