1. Cinper Corp. management will invest $331,300, $616,750. $213,000, $818.700, $1,239,900, and $1,618,100 in research and development over the next six years. If the appropriate interest rate is 8.05 percent, what is the future value of these investments eight years from today? (Round answer to 2 decimal places, eg. 15.25. Do not round factor values.)

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The top prize for the state lottery is $100,000,000. You have decided it is time for you to take a chance and purchase a ticket. before you buy the ticket, you must decide whether to choose the cash option or the annual payment option. If you choose the annual payment option and win, you will receive $100,000,000 in 10 equal payments of $10,000,000-one payment today and one payment at the end of each of the next 9 years. If you choose the cash payment, you will receive a one-time lump sum payment of $81,078,216.76. If you can invest the proceeds and earn 6 percent, which would you choose (lump sum or annual) along with the present value of the annuity? (Round factor values to 4 decimal places, 1.5213, and final answer to 2 decimal places, 15.25.)

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You are interested in investing in a five-year bond that pays a 7.2 percent coupon rate with interest to be received semiannually. Your required rate of return is 9.8 percent. What is the most you would be willing to pay for this bond? Assume the face value is $1,000. (Round answer to 2 decimal places, e.g. 15.25.)