Jake Werkheiser decides to invest $5000 in an IRA at the end of each year for the next 12 years. If he makes these investments, and if the certificates pay 12%, compounded annually, how much will he have at the end of the 12 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) Need Help? Read It Watch It Talk to a Tutor 1/2 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.3.025. How much must be invested at the beginning of each year at 12%, compounded annually, to pay off a debt of $40,000 in 7 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity due (b) Solve the problem. (Round your answer to the nearest cent.) $ X