Find the present value of an annuity due that consists of monthly payments of $40 for three years, if the interest rate is 18% compounded monthly.

Ruth Peters wants to know how much she should invest today at 12% compounded monthly in order to receive monthly payments of $60 for the next two years.

Patricia Wiseman is 30 years old and she invests $2,000 in an annuity, earning 5% compounded annual return at the beginning of each period, for 18 years. What is the cash value of this annuity at the end of 18 years?