Part 2 8 Attempt 1/10 for 10 pts. What is the future value of the cash flows if it's an ordinary annuity? 23091.52 Correct FV = PV (1+r) = 9,451 (1.015)60 = 23,092 For this loan, the future value is the amount that you would have to pay after 60 months to pay off the loan if you hadn't made any monthly payments. Alternatively, you could use the formula for the future value of an ordinary annuity: ((1+r)" 1) (1.01560 - 1) = 23,092 Using a financial calculator: FV = 240 0.015 Inputs Compute NI/Y PV PMT FV 60 1.5 0 240 23,092 Using Excel (do not enter the thousands separators): =FV(rate, nper, pmt) =FV(0.015, 60, -240) =23,092 Part 3 Attempt 2/10 for 10 pts. What is the present value of the cash flows if it's an annuity due? 0+ decimals Submit Part 4 IB Attempt 1/10 for 10 pts. What is the future value of the cash flows if it's an annuity due? 0+ decimals Submit