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please help. thanks Time value-Annuities Personal Finance Problem Marian Kirk wishes to select the better of two 9-year annuities, C and D. Annuity C is
please help. thanks
Time value-Annuities Personal Finance Problem Marian Kirk wishes to select the better of two 9-year annuities, C and D. Annuity C is an ordinary annuity of $2,030 per year for 9 years. Annuity D is an annuity due of $1,900 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) 6% annual interest and (2) 12% 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) 6% and (2) 12% interest rates. c. Find the present value of both annuities, assuming that Marian can earn (1) 6% annual interest and (2) 12% annual interest d. Use your findings in partc to indicate which annuity has the greater present value for both the (1) 6% and (2) 12% interest rates e. Briefly compare, contrast, and explain any differences between your findings using the 6% and 12% interest rates in parts b and d 21 a. The future value of Annuity Cat 6% interest is $ (Round to the nearest cent.) Step by Step Solution
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