(Future value of an ordinary annuity) What is the future value of $500 per year for 8 years compounded annually at 9 percent? The future value of $500 per year for 8 years compounded annually at 9 percent is $ . (Round to the nearest cent.)

(Present value of an ordinary annuity)What is the present value of

$25002,500

per year for

99

years discounted back to the present at

1111

percent?

The present value of

$25002,500

per year for

99

years discounted back to the present at

1111

percent is

$nothing.

(Round to the nearest cent.)