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Homework answers / question archive / Your friend Anne is planning to invest $700 each year for four years and will earn a rate of 6 percent per year

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

Finance

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

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

2) What is the difference between an annuity due and an ordinary annuity?

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