Directions: Choose the correct answer below and show the solution.

1. ORDINARY ANNUITY: Find the amount of an ordinary annuity of Php500 every end of the month for 3 years at 12% compounded quarterly.

A. Php31,637.97

B. Php31,673.97

C. Php31,367.97

D. Php31,763.97

2. ANNUITY DUE: If money is worth 8% compounded semi-annually, find the present value of the annuity due paying Php500 semi-annually for a term of 2 1/2 years.

A. Php2,314.95

B. Php2,413.95

C. Php2,314.95

D. Php2,431.95

You can answer it even if the answer is not included in choices below but don't forget the complete solution. Thank you!