Q4. Using the values below, answer the questions that follow: (1mark) Amount of annuity: $500...
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Accounting
Q4. Using the values below, answer the questions that follow: (1mark)
Amount of annuity: $500
Interest rate: 9%
N=10 years
- Calculate the future value of the annuity, assuming that it is
- An ordinary annuity.
- An annuity due.
- Compare your findings in parts a(1) and a(2). All else being identical, which type of annuityordinary or annuity dueis preferable as an investment? Explain why.
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