14. You have the opportunity to purchase a note that still has 4 years to run. It pays $750 per year, with the first payment due 1 year from now. It can be purchased for $2,700. Should you buy the note, assuming you can earn 6% on an alternative investment? 15. A farm can finance a tractor purchase with an $80,000 loan at the local bank. The financing terms include a four-year loan, a 7% annual interest rate, and equal quarterly repayments of principal and interest. Given this information, determine the level of the quarterly payments. 16. Margaret Putter is a professional golfer who has just signed a $2 million contract. The terms are five annual payments of $400,000 cach. Determine the present value of the contract to Margaret, assuming her interest rate is 10%