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Please be descriptive and show all work step-by-step. Future Value: Ordinary Annuity versus Annuity Due What is the future value of a 12%, 5-year ordinary

Please be descriptive and show all work step-by-step.

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Future Value: Ordinary Annuity versus Annuity Due What is the future value of a 12%, 5-year ordinary annuity that pays $600 each year? Do not round intermediate calculations. Round your answer to the nearest cent. $ If this were an annuity due, what would its future value be? Do not round intermediate calculations. Round your answer to the nearest cent. $

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