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Future value: annuity versus annuity due What's the future value of a 5%, 5-year ordinary annuity that pays $100 each year? Round your answer to

Future value: annuity versus annuity due

  1. What's the future value of a 5%, 5-year ordinary annuity that pays $100 each year? Round your answer to the nearest cent.

$

  1. If this was an annuity due, what would its future value be? Round your answer to the nearest cent.

$

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