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Suppose you are going to receive $14, 500 per year for five years. The appropriate interest rate is 8 percent. a. What is the present

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Suppose you are going to receive $14, 500 per year for five 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? Present value $ What is the present value of the payments if the payments are an annuity due? Present value $ b. Suppose you plan to invest the payments for five years. What is the future value if the payments are an ordinary annuity? Future value $ What is the future value if the payments are an annuity due? Future value $ c. Which has the higher present value, the ordinary annuity or annuity due? Which has the higher future value

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