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Suppose you are going to receive $ 1 2 , 9 0 0 per year for six years. The appropriate interest rate is 7 .

Suppose you are going to receive $12,900 per year for six years. The appropriate interest rate is 7.8 percent.
a-1. What is the present value of the payments if they are in the form of an ordinary annuity?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.
a-2. What is the present value if the payments are an annuity due?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.
b-1. Suppose you plan to invest the payments for six years. What is the future value if the payments are an ordinary annuity?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.
b-2. Suppose you plan to invest the payments for six years. What is the future value if the payments are an annuity due?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.

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