1. Sheffield Corp. will receive $19500 today (January 1, 2020), and also on each January 1st for the next five years (2021 2025). What is the present value of the six $19500 receipts, assuming a 10% interest rate?

$84928.

$93420.

$147768.

$165500.

2. Coronado Industries makes an investment today (January 1, 2020). They will receive $22500 every December 31st for the next six years (2020 2025). If Coronado wants to earn 12% on the investment, what is the most they should invest on January 1, 2020?

$92507.

$103608.

$195090.

$204503.

3. Mary and James want to begin saving for their baby's college education. They estimate that they will need $115000 in twelve years. If they are able to earn 2% per annum, how much must be deposited at the end of each of the next twelve years to fund the education?

$9450.

$10874.

$10134.

$8574.