1. You will receive $1,000 at the end of each year for the next 12 years. How much would you accept now in exchange for your right to receive 1000 at the end of each year for the next 12 years? You can earn 4% on any investment you make.

a.$15,026

b.$636

c.$9,385

d.$4,779

e.$3,037

f.$1,601

g. $1,574

h.$625

2. You will receive 1000 at the end of 10 years. how much would you accept now in exchange for your right to receive 1000 at the end of 10 years? You can earn 12% (COMPOUNDED SEMI-ANNUALLY) on any investments you make.

a.$11,470

b.$3,326

c.$3207

d.$335

e.$36786

f.$312

g.$9930

h.$2986

3. You owe $10,000 on a loan. The loan is to br repaid in equal payments at the end of each year for the next five years. The interest rate on the loan is 8%. What is the amount of each of the annual loan payments?

a. $1047

b.$1705

c.$2505

d.$1547