13. What is the future value of a 5-year ordinary annuity with annual payments of $200 evaluated at a 15 percent interest rate? a. $670.44 b. $842.91 c. $1,169.56 d. $1,522.64 e. $1,348.48 14. If you buy a factory for $250,000 and the terms are 20 percent down, the balance to be paid off over 30 years at a 12 percent rate of interest on the unpaid balance, what are the 30 equal annual payments each? a. $20,593 b. $31,036 c. $24,829 d. $50,212 e. $6,667 15. IfS100 is placed in an account that earns a simple 4 percent, compounded quarterly, what will it be worth in 5 years? a. $122.02 b. $105.10 c. $135.41 d. $120.90 e. $117.48 16. Kate wants to invest S1,000 for five years. Which one of the following will provide her with the largest future value? a. 6 percent simple interest b. 6 percent interest, compounded monthl c. 6 percent interest, compounded annually d. 7 percent simple interest e. 7 percent interest, compounded monthly