11. Calculate the present value of the following series of cash flows, assuming a discount rate of 10% compounded annually: years 1-5 $15,000 per year; years 6-10 $10,000 per year.

12. Find the future value of $25,000 at 15% compounded annually, computed quarterly for 5 years. Determine the effective rate (EAR) and compare it to the nominal rate.

13. Don Pedro took out a loan for $12,000 at 15% compounded annually, payable in 3 equal installments at the end of each year. Calculate the amount of such payments. Prepare an amortization table and determine the total amount of interest paid.

14. Francisca has $2,500 to invest. She has been offered an investment that yields $4,000 at the end of year 3. Determine the rate of return she would earn if she accepted the offer.

15. Determine the rate of return on an investment today of $10,606, which promises you $2,000 per year at the end of each of the next 10 years.