For the following questions assume an ordinary annuity of $1000 and a required return of 12 percent.
a. what is the future value of a ten year ordinary annuity?
b. if you earned an additional year's worth of interest on this annuity, what would be the future value?
c. what is the future value of a ten year annuity due?
d. what is the relationship between your answers in parts (b) and (c)? Explain.