15- I really want this pickup truck but I can't afford a monthly payment over $900/mo. Given the $51,795 loan amount and a five year term (with interest compounded monthly), at what APR can I afford the truck?

16- I would like to build a new factory to expand my business operations. I have estimated the following cash flows during this time:

• Year 1: -700
• Year 2: -500
• Year 3: -100
• Year 4: 300
• Year 5: 600
• Year 6: 1750

Assume a discount rate of 12%. What is the NPV of this project?

17- I am interested in buying into an annuity that will return me the following cashflows:

• At the end of the first year, I will receive $150.
• At the end of the second year, I will receive $250.
• At the end of the third year, I will receive $350.
• At the end of the fourth year, I will receive $450
• At the end of the fifth year, I will receive $550

It will cost me $1,500 today to buy into the annuity. Assuming a discount rate of 6.5%, what is the NPV of this potential investment?