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12/13 thank you! 12. If you borrow $11,500 and promise to make payments of $3,130 at the end of each year for 4 years, what
12/13 thank you! 12. If you borrow $11,500 and promise to make payments of $3,130 at the end of each year for 4 years, what is the implied rate of interest on this loan? A. 3.49% B. 6.10% C. 8.65% D. 11.24% E. None of the above 13. What is the present value of an annuity that pays $7000 annually for 12 years if the required rate of return is 8.5%? A. $45,929.44 B. $51,412.80 C. $116,844.75 D. $136,844.75 E. None of the above
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