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Suppose you are going to receive $10,500 per year for six years. The appropriate interest rate is 8 percent. (a)What is the present value of
Suppose you are going to receive $10,500 per year for six years. The appropriate interest rate is 8 percent.
(a)What is the present value of the payments if they are in the form of an ordinary annuity? (Round your answer to 2 decimal places (e.g., 32.16).)
(b) What is the present value if the payments are an annuity due? (Round your answer to 2 decimal places (e.g., 32.16).)
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