16. Calculate the present value of the annuity. (Round your answer to the nearest cent.)

$14,000annually at7%for 10 years.

$

17. Determine the payment to amortize the debt. (Round your answer to the nearest cent.)

Monthly payments on$140,000at4%for 25 years.

$

18. Determine the payment to amortize the debt. (Round your answer to the nearest cent.)

Quarterly payments on$11,500at3.7%for 6 years.

$

19. Find the unpaid balance on the debt. (Round your answer to the nearest cent.)

After5years of monthly payments on$150,000at3%for 25 years.

$

20. The super prize in a contest is $10 million. This prize will be paid out in equal yearly payments over the next25years. If the prize money is guaranteed by AAA bonds yielding3%and is placed into an escrow account when the contest is announced 1 year before the first payment, how much do the contest sponsors have to deposit in the escrow account? (Round your answer to the nearest cent.)

$