P5-20 (similar to) Question Help Present value of an annuity Consider the following case. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Amount of annuity Interest rate Period (years) 544 000 5% 8 1. Calculate the present value of the annuity assuming that it is (1) An ordinary annuity (2) An annuity due b. Compare your findings in parts af1) and a(2). All else being identical, which type of annuity-ordinary or annuity due-is preferable? Explain why The present value of the ordinary annuity is $]). (Round to the nearest cent) Enter your answer in the answer box and then click Check Answer 2 pants remaining Clear All Check