17. An investment, which is worth 38,700 dollars and has an expected return of 3.89 percent, is expected to pay fixed annual cash flows forever with the next annual cash flow expected in 1 year. What is the present value of the annual cash flow that is expected in 6 years from today?

18. Quantum Pizza took out a loan from the bank today for 21,300 dollars. The loan requires Quantum Pizza to make a special payment of 12,100 dollars to the bank in 3 years from today and also make regular, fixed payments of X to the bank each year forever. The interest rate on the loan is 4.17 percent per year and the first regular, fixed annual payment of X will be made to the bank in one year from today. What is X, the amount of the regular, fixed annual payment?

19. An investment is expected to generate annual cash flows forever. The first annual cash flow is expected in 1 year and all subsequent annual cash flows are expected to grow at a constant rate annually. We know that the cash flow expected in 2 year(s) from today is expected to be 1,850 dollars and the cash flow expected in 9 years from today is expected to be 2,900 dollars. What is the cash flow expected to be in 5 years from today?