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) $16.000 9% 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 (1) and (2) Alehe being identical, which type of annuity-ordinary or annuity due is preferable? Explain why The prosent value of the ordinary annuity in sound to the nearest cant)