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Determine the future value of the annuity due

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Reference no: EM132898746

Your friend Anne is planning to invest $700 each year for four years and will earn a rate of 6 percent per year.

Problem 1: Determine the future value of this annuity due if her first $700 is invested now. Show your work.

Problem 2: What is the difference between an annuity due and an ordinary annuity? Explain.

Reference no: EM132898746

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