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Problem 4-6 Future Value: Ordinary Annuity versus Annuity Due What is the future value of a 4%, 5-year ordinary annuity that pays $800 each year?

Problem 4-6

Future Value: Ordinary Annuity versus Annuity Due

What is the future value of a 4%, 5-year ordinary annuity that pays $800 each year? Round your answer to the nearest cent.

If this were an annuity due, what would its future value be? Round your answer to the nearest cent.

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