a) What is the future value of a 20-year ordinary annuity of $50 if the interest rate is 8%?
b) What is the present value of the annuity?
c) What are the future and present values if the annuity were an annuity due?
d) If I plan to buy a $200,000 house with a 30-year mortgage at 9%, what is my monthly payment?
e) How much principal would I pay in the first month of the mortgage?