I. Find the annual payments for an ordinary annuity and an annuity due for 8 years with a PV of $1,000 and an interest rate of 11%. Round your answers to the nearest cent. Annual payment for ordinary annuity: \$ Annual payment for annuity due: 1. Find the PV and the FV of an invelstment that makes the following end-of-year payments. The interest rate is 11% Round your answers to the nearest cent. PV of investment: 5 FV of investment: $ k. Five banks offer nominal rates of 10% on deposits, but A pays interest annually, B pays semiannually, C pays quarterly, D pays monthly, and E pays daily. Assume 365 days in a year. 1. What effective annual rate does each bank pay? If you deposit $3,000 in each bank today, how much will you What effective annual rate does each bank pay? If you deposit $3,000 in each bank today, how much will you have in each bank at the end of 1 year? 2 years? Round your answers to two decimal places. 2. If the TVM is the only consideration, what nominal rate will cause all of the banks to provide the same effective annual rate as Bank A? Round your answers to two decimal places