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table [ [ Amount of annuity,Interest rate,Period ( years ) ] , [ $ 2 1 , 0 0 0 , 9 % ,
tableAmount of annuity,Interest rate,Period years$
a Calculate the present value of the annuity assuming that it is
An ordinary annuity.
An annuity due.
b Compare your findings in parts a and a All else being identical, which type of annuityordinary or annuity dueis preferable? Explain why.
The present value of the ordinary annuity is $ Round to the nearest cent.
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