1. Jamie lends a friend $15,000, for which her friend will repay him $32,000 at the end of 10 years. What interest rate is Jamie charging her friend? (Round to two decimal places.) (3 points) 2. What is the present value of an annuity of $115 received at the end of each year for 12 years? Assume a discount rate of 8%. The first payment will be received one year from today (round to the nearest \$1). (3 points) 3. You decide you want your child to be a millionaire. You have a daughter today, and you deposit $85,000 in an investment account that earns 9% per year. The money in the account will be distributed to your daughter whenever the total reaches $2,750,000. How old will your daughter be when she gets the money (rounded to the nearest year)? (3 points) 4. An investment is expected to yield $700 in three years, $900 in five years, and $1100 in seven years. What is the present value of this investment if our opportunity rate is 9% ? (3 points)