Personal Finance ProblemTime value: Annuities John Pierce wishes to select one of the two annuities on offer. Annuity $1$ is an ordinary annuity of $1,250$ per year for $10$ years. Annuity $2$ is an annuity due of $1,150$ per year for $10$ years.a$.$ Find the future value of both annuities $10$ years from now, assuming that Johncan earn $(1)5\%$ annual interest and $(2)11\%$ annual interest.b$.$ Use your findings in part a to indicate which annuity has the greater future valueafter $10$ years for both the $(1)5\%$ and $(2)11\%$ interest rates.c$.$ Find the present value of both annuities, assuming that John can earn $(1)5\%$ an$-$nual interest and $(2)11\%$ annual interest.d$.$ Use your findings in part c to indicate which annuity has the greater presentvalue for both $(1)5\%$ and $(2)11\%$ interest rates.e$.$ Briefly compare, contrast, and explain any differences between your findings us$-$ing the $6\%$ and $10\%$ interest rates in parts b and d