Suppose you are going to receive $12,600 per year for five years. The appropriate interest rate is 7.5 percent.

a-1What is the present value of the payments if they are in the form of an ordinary annuity?(Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)

Present value$

a-2What is the present value if the payments are an annuity due?(Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)

Present value$

b-1Suppose you plan to invest the payments for five years. What is the future value if the payments are an ordinaryannuity?(Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)

Futurevalue$

b-2Suppose you plan to invest the payments for five years. What is the future value if the payments are an annuity due?(Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)

Futurevalue$