Marian Kirk wishes to select the better of two 8-year annuities, C and D. Annuity C is an ordinary annuity of $2 comma 420 per year for 8 years. Annuity D is an annuity due of $2 comma 150 per year for 8 years.

a.Find the future value of both annuities at the end of year 8, assuming that Marian can earn (1) 9% annual interest and (2) 18% annual interest.

b.Use your findings in part a to indicate which annuity has the greater future value at the end of year 8 for both the (1) 9% and (2) 18% interest rates..

c.Find the present value of both annuities, assuming that Marian can earn (1) 9% annual interest and (2) 18% annual interest.

d.Use your findings in part c to indicate which annuity has the greater present value for both the (1) 9% and (2) 18% interest rates.

e. Briefly compare, contrast, and explain any differences between your findings using the 9% and18% interest rates in parts b and d.