1. A firm's dividends have grown over the last several years. 6 years ago the firm paid a dividend of $1. Yesterday it paid a dividend of $7. What was the average annual growth rate of dividends for this firm?

Round the answer to two decimal places in percentage form.

2. To what amount will the following investment accumulate? $9,333, invested today for 21 years at 13.71 percent, compounded monthly.

Round the answer to two decimal places.

3. For the next 13 years, you decide to place $2,345 in equal year-end deposits into a savings account earning 5.40 percent per year. How much money will be in the account at the end of that time period?

Round the answer to two decimal places.

4. You are given an investment to analyze. The cash flows from this investment are

End of year 1. $10,830 2. $2,360 3. $27,460 4. $18,570 5. $7,700

What is the present value of this investment if 15 percent per year is the appropriate discount rate?

Round the answer to two decimal places.