Question: How would you calculate the present and future value of the following annuity streams?
1) $5,000 received each year for 5 years on the last day of each year if your investments pay 6 percent compounded annually.
2) $5,000 received each quarter for 5 years on the last day of each quarter if your investments pay 6 percent compounded quarterly.
3) $5,000 received each year for 5 years on the first day of each year if your investments pay 6 percent compounded annually.
4) $5,000 received each quarter for 5 years on the first day of each quarter if your investments pay 6 percent compounded quarterly.