Given parameters
rate =4.75%
time= 5years
Annuity due refers to a series of equal payments made at the same interval at the beginning of each period. Periods can be monthly, quarterly, semi-annually, annually, or any other defined period.
The formula to be used will be
From the question given
Part A
=> $97112.04
Part B
n=4x10 =40 (Because it is compounded 4 times a year and then for 10 years)
=>$61486.59