You are comparing two annuities with equal present values. The applicable discount rate is 4.5% compounded monthly. One annuity pays $2,000 each month for twenty years, starting today. How much does the second annuity pay each month for twenty years if it will pay the first payment one month from today? $2,010,00 $2,008.75 * $2,009.50 $2,007.50 $2,009.00 You plan on making monthly payments for the next ten years in order to accumulate $100,000. If the rate of return is 8% compounded monthly determine the value of the monthly payments. $946,61 $446.61 $546.61 * $746,61 346.61