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Explain what is annuity & the diff between ordinary annuity and annuity due. What...

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Accounting

Explain what is annuity & the diff between ordinary annuity and annuity
due. What are the relationship of the present value and future value calculation of these
two types of annuities?
Imagine you buy a car using a bank loan that requires an annual payment of $500 for 10years at the end of each year. If the annual interest rate is 3%, what are the present value of this car? What is the Excel function used for this calculation?
What would the present value be if the loan requires a semi-annual payment of $100 at the
beginning of each period? What is the Excel function for this annuity due?

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