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Determine ordinary annuity versus annuity due

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Reference no: EM132493810

Future Value: Ordinary Annuity versus Annuity Due

Question 1: What is the future value of a 7%, 5-year ordinary annuity that pays $200 each year? Round your answer to the nearest cent.

Question 2: If this were an annuity due, what would its future value be? Round your answer to the nearest cent.

Reference no: EM132493810

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