11. To purchase a new boat, you agree to pay the owner each year at the beginning of the year for five years. The boat will cost you $25,000. If you agree to a loan rate of 10% for the right to buy the boat in payments rather than in one lump sum, how much are your annuity payments? 12. If the present value of an investment is $78.35 and the future value is $100, how long was the investment invested if the rate earned was 5%? 13. If the present value of a six (6) year investment is $95.00 and the future value is $145, what rate is being earned? 14. If an investment increased in value from $30,000 to $80,000 in 5 years, what was the annual compounded rate of growth? 15. What is the present value of a perpetuity of $5,000 invested at a rate of 12%? 16. Your cousin has just invested in a consul bond that promises to pay $200 per year into perpetuity. She would like to know the final ending value of the bond. 17. What is the effective annual rate of interest on your credit card if the nominal rate is 18% per year, compounded monthly? 18. You are looking at two savings accounts. One pays 5.25%, with quarterly compounding. The other pays 5.30% with semiannual compounding. Which account should you use? 19. If you deposit $300 today, what is the future value of the deposit five years from now with 8% interest compounded quarterly? 20. What is the PV of $100 one year from now with 12% interest compounded monthly? 21. What is the future value of $100 invested at the end of each year for three years if the money is invested at 12% interest compounded quarterly? 22. What is the present value of $500 invested at the end of each year for four (4) years if the money is invested at 8% interest compounded quarterly? 23. How long must you leave $5,000 invested at 6% compounded semiannually for the investment to grow to $10,000