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Suppose you are going to receive $ 1 5 , 5 0 0 per year for five years. The appropriate interest rate is 1 1

Suppose you are going to receive $15,500 per year for five years. The appropriate interest rate is 11 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 of the payments 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 five 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. 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.
c-1. Which has the higher present value, the ordinary annuity or annuity due?
c-2. Which has the higher future value?
\table[[a-1. Present value of ordinary annulty,],[a-2. Present value of annuity due,],[b-1. Future value of ordinary annuity,],[b-2. Future value of annuity due,],[c-1. Higher present value,],[c-2. Higher future value,]]
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