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For this part you need to use the financial tables and show your work. You are expected to report the specific value from the table

For this part you need to use the financial tables and show your work. You are expected to report the specific value from the table in your solutions.

I. Suppose you are going to receive $20,000 per year for 4 years. The interest rate is 6%.

a. What is the present value of the payments if they are in the form of an ordinary annuity?

b. What is the present value if the payments are an annuity due?

II. Suppose you plan to invest the payments for 5 years.

c. What is the future value if the payments are an ordinary annuity?

d. What if the payments are an annuity due?

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