10:14 1 LTE practice_questions_timevalue+%28t... Question: 3 A company recently took out a $25,000 loan with interest payable at the rate of 9 percent, compounded annually. The loan is to be paid off in one lump sum, at the end of 3 years. Given it is to include both principal and interest, what will be the amount of the total loan payment? A) $27.250. B) $31.750 C) $32,376. Question: 4 After successfully completing the CFA program, Jennie has no fear and now wants to go on a long vacation. She projects that she can save $1,000 at the end of the quarter for each of the next two years and has estimated the cost of the trip at a U.S. dollar equivalent of $8,500. To afford the trip, Jennie needs to earn an annual rate of approximately: A) 1.72% B) 1.34% C) 6.90% Note that to tackle this problem requires the use of a financial calculator or a numerical trial-and-error procedure using a spreadsheet like Excel (the procedure will be explained during tutorial)