11. Derek can deposit $235.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 13.00% and compounds interest monthly. Derek can deposit $2,598.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts after 10 years?

21.

An investor placed $10,300.00 in a private equity fund 7.00 years ago. Over the past 7.00 years, the fund returned 11.00% APR with quarterly compounding per year. Today, the investor pulls the money out of the private equity fund and moves it into a mortgage-backed security that pays 6.00% APR with monthly compounding. If he leaves the investment in this security for the next 13.00 years, what will his value be at that time?

22.

An investor is considering an offer to buy equity in a start-up company. The investor will not receive in cash flows from the company until 14.00 years from today. At that time he will receive 10.00 consecutive annual payments of $52,193.00. The investor wants a 20.00% return on his investment. How much can he pay today for this opportunity to receive his return?