Marian Kirk wishes to select the better of two 9-year annuities. Annuity 1 is an ordinary annuity of $1,900 per year for 9 years. Annuity 2 is an annuity due of $1,730 per year for 9 years.

a.Find the future value of both annuities at the end of year 9,assuming that Marian can earn (1) 7% annual interest and (2) 14% annual interest.

b.Use your findings in part a to indicate which annuity has the greater future value at the end of year 9 for both the (1) 7 % and (2) 14% interest rates..

c.Find the present value of both annuities, assuming that Marian can earn (1) 7% annual interest and (2) 14% annual interest.

d.Use your findings in part c to indicate which annuity has the greater present value for both the (1) 7% and (2) 14% interest rates.

e. Briefly compare, contrast, and explain any differences between your findings using the 7% and14% interest rates in parts b and d.