An 8% semiannual coupon bond matures in 5 years. The bond has a face value of $1,000 and a current yield of 8.1899%. What are the bond's price and YTM? (Hint: Refer to Footnote 6 for the definition of the current yield and to Table 7.1) Do not round intermediate calculations. Round your answer for the bond's price to the nearest cent and for YTM to two decimal places. Bond’s price: $ YTM: %

Answers

Answer 1

The bond's price is $927.84 and the YTM is 8.24%.

To calculate the bond's price and YTM, we need to use the formula for bond pricing and solve for the yield to maturity (YTM). The bond pricing formula is as follows:

Bond Price = (C / Y) x [1 - (1 + Y)^(-n)] + (F / (1 + Y)^n)

Where:

C = Coupon payment

Y = Yield to maturity

n = Number of periods

F = Face value

Given information:

Coupon payment (C) = 8% of $1,000 = $80

Number of periods (n) = 5 years = 10 semiannual periods (since it pays semiannually)

Face value (F) = $1,000

Current yield = 8.1899% = 0.081899 (as a decimal)

To find the YTM, we will use the trial and error method or a financial calculator. For simplicity, we can use the trial and error method to approximate the YTM.

Assuming a YTM of 8.1899%, we can calculate the bond price:

Bond Price = ($80 / 0.081899) x [1 - (1 + 0.081899)^(-10)] + ($1,000 / (1 + 0.081899)^10)

Using a financial calculator or spreadsheet, we can calculate the bond price:

Bond Price ≈ $927.84

To calculate the YTM, we need to use the trial and error method or a financial calculator. By adjusting the YTM, we can find the YTM that makes the bond price closest to $927.84. Through this iterative process, we can find that the YTM is approximately 8.24%.

Therefore, the bond's price is $927.84 and the YTM is 8.24%.

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Related Questions

Question 7 We have the following quotes: Spot exchange rate: CHF/USD 1.257 - 1.2581 3-months forward: 12 to 20 Calculate the mid-rate. Question 8 We have the following quotes: Spot exchange rate: CHF/USD 1.2573 - 1.2582 3-months forward: 14 to 20 Calculate the number of points spread.

Answers

Answer to Question 7: To calculate the mid-rate, we add the bid and ask prices of the spot exchange rate and divide the sum by 2. Therefore, the mid-rate for CHF/USD is (1.257 + 1.2581)/2 = 1.25755.

Answer to Question 8: The number of points spread can be calculated by subtracting the bid price of the 3-month forward from the ask price of the spot exchange rate, or by subtracting the ask price of the 3-month forward from the bid price of the spot exchange rate. In this case, the spread is (20 - 1.2573) x 10,000 = 17,270 points.

The spread represents the difference between the prices at which buyers are willing to buy and sellers are willing to sell a currency. In this case, the spread is relatively wide, indicating a higher level of volatility and risk in the market.

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You have finished studying and you have just got your first job. You decide to move into a flat with a friend. Your salary is R9 000 per month,after tax. Work out how much you will need to pay for one month how much you will have left for savings and investments​

Answers

You will need to pay R7,000 for one month's expenses, and you will have R2,000 left for savings and investments.

How to determine how much you will have left for savings and investments

Total Monthly Expenses = Rent + Utilities + Transportation + Food and groceries + Other expenses

Total Monthly Expenses = R3,000 + R500 + R500 + R2,000 + R1,000

Total Monthly Expenses = R7,000

To Calculate your savings and investment amount:

To determine the amount you will have left for savings and investments, subtract your monthly expenses from your after-tax salary.

Amount for Savings and Investments = Monthly Salary - Total Monthly Expenses

Amount for Savings and Investments = R9,000 - R7,000

Amount for Savings and Investments = R2,000

Therefore, based on the given information, you will need to pay R7,000 for one month's expenses, and you will have R2,000 left for savings and investments.

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This jacket is so thin. It can't possibly keep out the rain."(Use the boomerang method.)

Answers

Answer:

The jacket is thin because it uses a fiber called thinsulate that enables it to have the lightest weight but is also the warmest.

Explanation:

In general marketing, the boomerang method refers to the 'reconstruction' of the customer's objection into the main reason for buying. In other words, using the same excuse that a customer has about a product to entice him/her to buy that product by reframing it as a selling point is known as the boomerang method.

In the given scenario, the customer's objection is about the thinness of the jacket can be used as a selling point by the salesman by stating that the lightness of the jacket is what makes it a good product. So, if the seller tells the customer "the jacket is thin because it uses a fiber called Thinsulate that makes it thin but also warm", then that will make it an interesting and important factor for the customer to like the product more.

Your father obtained a car loan payable in lump sum in 5 years at a total amount of P800,000 with an annual rate of 15%. What is the present value?

Answers

Answer:

the present value is $397,741.39

Explanation:

The computation of the present value is shown below

As we know that

Present value = Future value ÷ (1 + rate of interest)^years

= 800,000 ÷ (1 + 0.15)^5

= 800,000 ÷ 1.15^5

= $397,741.39

Hence, the present value is $397,741.39

Lillian's company has distributed a guidebook on using inclusive language that does not discriminate. This information will help her, and her coworkers follow what kind of guidelines?
group dynamics

conflict resolution

business hierarchy

business etiquette

Answers

Answer:

the answer is business etiquette

Explanation:

i just did the test and got 100 percent

A manual on employing nondiscriminatory language that is inclusive was issued by Lillian's employer. She and her employees will be better able to follow business etiquette thanks to this information. Hence, Option D is correct.

What are  business etiquettes?

The terms "business etiquette" and "social and business etiquette" relate to the standards and expectations of behavior in both contexts, the customary behaviors and conduct, and a professional code of ethics. All that's required is that one must act politely.

It is customary to behave in certain ways at work, and this is governed by a code of conduct. "Respect and protect time, people, and processes" is the goal of this code. Standard business etiquette is not universally accepted and can differ depending on the setting.

Therefore, Option D is correct.

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Research cultural business communication etiquette for a country outside of the USA, and list 5 tips for successful cultural communication and etiquette in a business setting. Include the name of your country, the 5 tips (bulleted statements) and the website URL of your research used.

Research cultural business communication etiquette for a country outside of the USA, and list 5 tips

Answers

Answer:

wow

Explanation:

The 1980s was a decade of accelerating decline for organized labor as economic changes, coupled with employer and governmental initiatives, surprised unions and ________________.


increased membership


exacerbated greed


leveled the political field


eroded membership

Answers

The 1980s was a decade of accelerating decline for organized labor as economic changes, coupled with employer and governmental initiatives, surprised unions and eroded membership.

During the 1980s, organized labor encountered a series of challenges that significantly eroded membership. Economic shifts, including globalization and technological advancements, resulted in the outsourcing of jobs and the decline of industries where unions traditionally held strong influence. Concurrently, employers and governmental initiatives aimed at curbing union power emerged, implementing anti-union policies and labor law reforms. These measures diminished the bargaining power of unions and made it more challenging for them to organize and retain members. Additionally, the changing political climate and economic landscape shifted public sentiment, further contributing to the decline of organized labor. Overall, these factors combined to create an environment of accelerating decline for unions, as membership numbers dwindled throughout the 1980s.

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Which of the following is an example of mass promotion?
O a. advertising
O b. telephone sales call
O c. personal selling
O d. all of the above

Answers

Answer:

probably a

Explanation:

i hardly see personal selling which eliminates d and c plus tellephone sales call doesnt reach as wide of an audience as advertising

Advertising is an example of mass promotion. Thus, option A is correct.

What is promotion?

Promotion can be defined as a part where the companies or the sellers are making sure that the customers are aware of their product as well as its positions. This is done to make sure that the product or the services being purchased would improve and increase the revenue.

Advertising can be considered a part of mass emotions because it can be done by various means where it can be placed in visual and audio and oral forms.

This would mean that in mass promotion the advertisement can be done with the help of radio, television, the screens which are available also hoardings. So, the customers get attracted to it and would buy the product. Therefore, option A is the correct option.

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how are you avalon23413?

Answers

Answer:

im great

Explanation:

Answer:

I’m doing well !! I hope you’re are going good too

Explanation:

Name some areas where there’s an expected be an increased demand for workers

Answers

Answer:

Health care,Social assistance,Child care

A receipt is the source document for cash received from transactions other than sales. answer choices. True. False.

Answers

The given statement "A receipt is the source document for cash received from transactions other than sales" is true because a receipt is indeed a source document that acknowledges the receipt of cash from transactions other than sales.

It serves as evidence of the transaction and typically includes details such as the date, amount, purpose of the payment, and the parties involved. Receipts are commonly used for various transactions, such as rental payments, service fees, reimbursements, and more.

By providing a record of cash received, receipts play a crucial role in maintaining accurate financial records and facilitating proper documentation of transactions. They serve as supporting evidence for accounting purposes, allowing businesses to track and reconcile their cash inflows accurately.

Additionally, receipts can also serve as proof of payment for customers or individuals who need to retain records of their financial transactions.

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All of the following are true regarding traditional manufacturing except a.traditional manufacturing practices tolerate defects. b.traditional manufacturing practices increase inventory to protect against process problems. c.traditional manufacturing practices decrease lead time to protect against uncertainty. d.traditional manufacturing practices emphasize product oriented layout.

Answers

Answer: c.traditional manufacturing practices decrease lead time to protect against uncertainty.

Explanation:

The traditional manufacturing practices tolerate defects and also increase inventory to protect against process problems.

It should also be noted that traditional manufacturing practices emphasize product oriented layout.

The option that traditional manufacturing practices decrease lead time to protect against uncertainty is false.

A business owner would most likely create a cooperative instead of buying a franchise because

A. cooperatives give majority owners the most control, while franchises make decisions with a parent company.
B. cooperatives make it easy to accumulate supplies, while franchises come with supplier relationships already in place.
C. cooperatives are well financed by members, while franchises must raise large sums of money to launch a business.
D. cooperatives allow all owners to share profits, while franchises are required to share profits with a parent company.

Answers

Answer:

A business owner would most likely create a cooperative instead of buying a franchise because  (D) cooperatives allow all owners to share profits, while franchises are required to share profits with a parent company.

Explanation:

Took Test Review on Edge 2021

A business owner would most likely create a cooperative instead of buying a franchise because cooperatives allow all owners to share profits, while franchises are required to share profits with a parent company. Therefore option D is correct.

What is Business?

An organization or enterprising entity engaging in commercial, industrial, or professional activity is referred to as a business. Businesses can be for-profit corporations or charitable institutions. Limited liability firms, sole proprietorships, corporations, and partnerships are among the several types of businesses.

A business can legally exist as a sole proprietorship, a partnership, or a corporation. Each of these legal formations has unique traits as well as benefits and drawbacks.

A partnership is a group of people who come together to start a company. Individuals, partnerships, or even companies can be partners. Partnerships come in a wide variety of forms, such as LLCs, LLPs, and other structures.

Hence, A business owner would most likely create a cooperative instead of buying a franchise because cooperatives allow all owners to share profits, while franchises are required to share profits with a parent company.

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Martin is a credit counselor working with a client, Kim, who is in serious financial trouble. Kim is hesitant because she has a long way to go and a lot of work to do before she can be financially healthy again. What is the best way for Martin to explain the next steps to her?

A.) Martin should present the information in small manageable steps rather than give her a lengthy to-do list.

B.) Martin should make a list of tasks that must be completed and do them for her, since he is an experienced professional.

C.) Martin should compile a list of all the tasks that Kim must complete and suggest that she report back to him after she is finished.

D.) Martin should not encourage her to do anything she is reluctant to do, even if it means salvaging her financial life in the long term​

Answers

Answer:

C

Explanation:

C la respuesta es la C ya que

economic theory implies that the incentive for a manager of a publicly operated firm (for example, a state university or the post office) to promote internal efficiency of their operations will be

Answers

The economic theory implies that the incentive for a manager of a publicly operated firm (for example, a state university or the post office) to promote internal efficiency of their operations will be that the more effective and productive the company is, the more financial rewards the managers are likely to receive from the company.

For instance, a state university that attracts a higher number of students to their school would generate more revenue in the form of tuition fees and other contributions. The financial incentive can be seen in the increased salary that the university would pay to their teachers and administrators in addition to the benefits accrued to the college management team such as bonuses, job security, and more.

Government-owned companies such as the post office, on the other hand, receive the majority of their funding from the government, and hence their main incentive is to offer the best services possible while maintaining the lowest costs possible.

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The table below shows the measurements M1 and M2 taken by the same analyst. Draw a scatter plot of the data.
M1 0.243 0.352 0.357 0.469 0.444 0.555 0.552
M2 0.245 0.348 0.361 0.470 0.439 0.560 0.548
a.
C.
0.75
0.75
0.625
0.625
.
0.5
0.3
.
0.375
0.375
2
0.23
0.25
0.125
0.125
0.125
0.25
0.375
0.5
0.62
0.125
0.25
0.375
0.5
0.62

Answers

Answer:

Its C

Explanation:

Answer:

C

Explanation:

ifunny is dankreloaded

What is the present value of a growing perpetuity that makes a payment of $100 in the first year, which thereafter grows at 3% per year? Apply a discount rate of 7%

Answers

Answer:

the present value of a growing perpetuity is $2,060

Explanation:

If a cash flow is growing at a constant rate, then we call this a growing perpetuity.

Present Value = PMT ( 1 + g) ÷ (r - g)

where,

g = constant growth rate

  = 0.03

r = discount rate

 = 0.08

Then,

Present Value = $100 (1,03) ÷ (0.08 - 0.03)

                        = $2,060

select one answer. you are planning your online video ad campaign. you would like to conduct a holistic measurement of the shopping journey across video, audio, display, and sponsored ads. what measuring solution could you use?

Answers

The measuring solution that could be used for conducting a holistic measurement of the shopping journey across video, audio, display, and sponsored ads is called multi-touch attribution. This solution allows advertisers to track and analyze the various touchpoints a customer has with their brand before making a purchase.

With multi-touch attribution, advertisers can assign credit to each touchpoint based on its impact on the customer's decision to buy. This includes touchpoints across different channels such as video, audio, display, and sponsored ads.

Multi-touch attribution models can be custom-designed to fit the specific needs of the advertiser. They can measure various metrics, including click-through rates, engagement rates, and conversion rates. Multi-touch attribution can also help advertisers optimize their ad spend by identifying which touchpoints are most effective in driving sales.

Overall, multi-touch attribution provides a comprehensive view of the customer's journey and helps advertisers make informed decisions about their online video ad campaign. By understanding the impact of each touchpoint, advertisers can improve the effectiveness of their ad campaign and drive more sales.

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HELP PLEASE

Companies create a division of labor among employees in order to:

O A. reduce the opportunity cost for hiring new employees.

O B. make it easier to shift employees between different jobs.

O C. allow each employee to perform one task at a high level.

O D. gain access to more human and physical capital.

Answers

Answer:

D

Explanation:

companies do this so everyone is more proficient with their bodies and their work

Carrie billed her legal clients $6,000 for legal work completed during the month. This
transaction will
not be recorded until the cash is collected.
O cause a $6,000 increase in assets and revenues.
cause a $6,000 increase in revenues and liabilities.
cause a $6,000 increase in revenues and a decrease in liabilities.

Answers

The fact that Carrie billed her legal clients an amount of $6,000 for legal work means that the transaction will  cause a $6,000 increase in assets and revenues.

What is the effect of service revenue?

When a person receives service revenue like Carrie did when she billed her clients, this would increase the revenue amounts to the company.

Revenues would therefore increase which means that equity increases as well because revenues are the main source of net income, which become retained earnings, which is an equity account.

When equity increases, assets will have to increase which will happen here because Carrie will treat her clients as Accounts receivable which is considered an asset.

In conclusion, option B is correct.

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Select the items that are needs from your bank statement. ABC BANK Available Balance $230.00 Cell phone plan$45 Rent$400 Car insurance$60 Backpack$10 Electric bill$60 Car payment$250 Submit

Answers

Answer:everything but the backpack

Explanation:

Which of the following is an example where a low integration control system would work best?A high-tech firm that needs to change to meet customer demandsA chemical company looking to diversify its existing product line with products that are similarA construction company looking to diversify its existing service line with services that are unrelatedAn apparel company pursuing a differentiation strategyA manufacturing company looking to expand into other markets

Answers

A low integration control system would work best for option C: a construction company looking to diversify its existing service line with services that are unrelated.

In this scenario, the company is branching out into new, unrelated services which may require different management styles, expertise, and operational processes. A low integration control system allows for more autonomy in decision-making within the various service lines, enabling the company to adapt and respond quickly to the unique challenges and demands of each service.This approach is suitable for a construction company diversifying into unrelated services, as it promotes flexibility and adaptability, allowing each service line to operate independently and achieve its specific goals. In contrast, a high integration control system would be less effective in this situation, as it might limit the company's ability to tailor its approach to the unique requirements of each service line.

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Corporate parenting generates corporate strategy by focusing on:_____.
a) differentiating its activities into separate units and integrating these activities through complex integrating mechanisms.
b) the cash flow among its business units.
c) the core competencies of the parent corporation and on the value created from the relationship between the parent and its units.
d) whether a business unit should be growing, stabilizing, or retrenching.
e) acquiring distinctive competencies in the marketplace.

Answers

Answer: c) the core competencies of the parent corporation and on the value created from the relationship between the parent and its units.

Explanation:

Tom is the aerobics coordinator at a fitness center. He needs a more efficient way for his instructors to share information. Class schedules are updated on a regular basis. Instructors need to indicate when they cannot teach a class and other instructors need to be able to sign up to cover the class. Instructors also often attend training classes and learn new procedures. Having a place to share their learning and update procedures will benefit them and their clients. Cindy is taking a business class and told Tom about a great tool that will serve their needs. What was the technology tool Cindy told Tom about

Answers

Answer:

wikis technological tool

Explanation:

As regards to the case above, the technology tool Cindy told Tom about is wikis technological tool . A wiki can be regarded as collaborative tool that provides students with enablement to make contribution and to perform modifications on one or more than one pages of course related materials. This tool is collaborative in nature, as a result of this, it facilitate community-building within a course. a wiki can be regarded as a web page and a collaborative software that has an open-editing system. It was set up to

the lexicon by Ward Cunningham who was a programmer

Why would the inherent and control risks at Kid Castle be of concern to a potential auditor?

Answers

Inherent risk is one of the risks auditors and analysts must look for when reviewing financial statements, along with control risk and detection risk. ... The ultimate risk posed to the company also depends on the financial exposure created by the inherent risk if the process for accounting for the exposure fails.

Name the FIVE documents that must be covered by the auditor's report?​

Answers

Answer:

The auditor's report typically covers the following five documents:

1)Financial Statements: The auditor's report provides an opinion on the fairness and accuracy of the financial statements prepared by the company. This includes the balance sheet, income statement, cash flow statement, and statement of changes in equity.

2)Management's Discussion and Analysis (MD&A): MD&A is a section of the annual report where management provides an analysis of the company's financial performance, results of operations, and future prospects. The auditor's report may reference or provide assurance on specific information contained in the MD&A.

3)Notes to the Financial Statements: The notes to the financial statements provide additional information and explanations regarding specific items in the financial statements. The auditor's report may refer to the notes and provide assurance on their presentation and disclosure.

4)Internal Control Report: In some cases, companies are required to provide an internal control report, which outlines management's assessment of the effectiveness of internal controls over financial reporting. The auditor's report may include a reference to the internal control report and provide assurance on its reliability.

5)Other Supplementary Information: The auditor's report may also reference or provide assurance on other supplementary information included in the annual report, such as schedules, disclosures, or additional financial data that accompany the financial statements.

It's important to note that the specific documents covered by the auditor's report may vary depending on the reporting requirements and regulations applicable to the company or organization being audited.

Suppliers want to sell large quantities of products with a high

Answers

Answer:

price

Explanation:

supplier will be willing and able to sell products for high prices as their able to make a good profit

How many blank sections does edge have? this is the second one and ill even show you the first one!

How many blank sections does edge have? this is the second one and ill even show you the first one!
How many blank sections does edge have? this is the second one and ill even show you the first one!

Answers

I can’t see the photos

Which is a benefit of collaboration and teamwork?
A.It expands your social network and creates new connections.
B.It makes it more difficult to leave your current job.
C.It makes it easier to do your job since you can have other people do it.
D.It requires more work since you have to explain so much to other people.

Which is a benefit of collaboration and teamwork?A.It expands your social network and creates new connections.B.It

Answers

Answer:

The Awnser Is A

Explanation:

It's the Best Awnser

27. Ethan's Edamame Empire has just purchased a new combine. He has calculated total fixed cost to be $37,225 per year and estimates a total variable cost of $8.25 per acre. a) What will his average fixed cost per acre be if he combines 1,700 acres per year? (show your work) b) What if he does only 800 acres per year? (show your work) (2pt) c) What is the additional cost of combining an additional acre? (2pt)

Answers

The additional cost of combining an additional acre is approximately $8.25.

To calculate the average fixed cost per acre, we divide the total fixed cost by the number of acres.

a) If Ethan combines 1,700 acres per year:

Average Fixed Cost per acre = Total Fixed Cost / Number of Acres

Average Fixed Cost per acre = $37,225 / 1,700

Average Fixed Cost per acre ≈ $21.96

b) If Ethan combines 800 acres per year:

Average Fixed Cost per acre = Total Fixed Cost / Number of Acres

Average Fixed Cost per acre = $37,225 / 800

Average Fixed Cost per acre ≈ $46.53

c) To calculate the additional cost of combining an additional acre, we subtract the cost of combining a certain number of acres from the cost of combining one more acre.

Additional Cost per acre = Cost of (n+1) acres - Cost of n acres

For example, to find the additional cost of combining one more acre after combining 1,700 acres:

Additional Cost per acre = Total Variable Cost for (1,701 acres) - Total Variable Cost for (1,700 acres)

Additional Cost per acre = ($8.25 * 1,701) - ($8.25 * 1,700)

Additional Cost per acre ≈ $8.25

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Olga hoped that if she altared the dress, it would be perfect for the graduation ceremony.O altaredO alteredO alertedO alternated Which of the following is not required element in establishing a negligence action. Which jurisdiction does the supreme court exercise most often?originalexcluesiveappalateconcurrent What is the solution set to this equation?108, (2 - 3) + 108, (7 + 3) = 2 Question 1A set of values is shown below.12.7, 22, 23.5, 24, 11, 22What is the mean absolute deviation of the set of values? a patient visits a clinic for an eye examination. he describes his visual changes and mentions a specific diagnostic clinical sign of glaucoma. what is that clinical sign? . Use the equation for Charless Law to explain what happens to the temperature inside of a compressed gas canister if you squeeze and reduce the volume inside of the canister? Assume that the pressure is kept constant (2pts) Consider the function represented by the equation y-6x-9=0. Which answer shows the equation written infunction notation with x as the independent variable?YUX) = 6x+910 = x+10 = 6 +9 For how many years did the Crusades last? performance obligation? revenue recognized sign contract deliver radio provide download of software update provide monthly music service 15Select the correct answer.Spirula Trading Inc. sublets a part of its office building to Jade Inc. for a period of ten years. How should Jade Inc. disclose this information?A. as an off-balance-sheet itemas a short-term liability in the balance sheetas an intangible asset in the balance sheetOD. disclosed as an intangible asset in the balance sheetOE as a long-term liability in the balance sheetB.C.ResetNext The ____ takes the request and calls the appropriate service methods based on used GET or POST methodControllerSingletonautowiring Write a function that models each variation.x= 1/3 y= 1/5 , and r=3 when z= 1/2 , and z varies directly with x and inversely with the product of r and y . a rectangle in the first and second quadrants of the coordinate plane has its base along the x-axis and two vertices on the parabola defined by y Using the Pythagorean theorem, if the hypotenuse is 17 feet long, and side a is 15 feet long. What is the missing length of side b? A patient care technician (PCT), Marc, who is like a nurses assistant, is in a patients room. The intravenous (IV) machine starts to beep because the IV line gets tangled. The PCT helps the patient to untangle the line, but the beeping continues. Only nurses are trained to work with IV machines, but the nurse, Aerin, is busy with another patient. Marc knows that since the line is now clear, all Aerin will need to do is hit a button to stop the beeping . What should Marc do?A) go get the nurse to tell her that he has already stopped the beeping on the IV machineB) hit the button on the IV machine to stop the beeping because he has fixed the problemC) go get the nurse so she can stop the beeping on the IV machineD) hit the button on the IV machine to stop the beeping because he has seen this done one angstrom, symbolized , is 10-10 m. 1 cm3 = ________ 3. determine the quotient when 18 is divided by 6 5. If a beaker contains 15.6 moles of water, H2 O, how many molecules does this represent? 6. How many formula units of PbO are contained in 0.317 moles of lead (II) oxide? 7. 6.01 x 10 25 atoms of cesium, Cs, are equivalent to how many moles of cesium? 8. Determine the number of moles that are represented by 3.54 x 10 21 molecules of sulfur dioxide, SO2 . What's the future value of a 12%, 5-year ordinary annuity that pays $500 each year? If this was an annuity due, what would its future value be? Do not round intermediate calculations. Round your answers to the nearest cent.Future Value of an Ordinary Annuity: $Future Value of an Annuity Due: $