17 You purchased fifteen Rudy Reindeer call option contracts when the option was quoted at $0.87. The strike price is $23.83. The value of the underlying stock today is $25.37. What is your total profit or loss on your investment if the option expires today? $1,005 $2,082 $2,385 $3,555 $3,806 18 You are buying a condo today at a price of $412,000, and are paying $132,000 down in cash. You are financing the balance at 6% annual percentage rate with monthly payments for 25 years. What is the approximate amount of each loan payment? $1,800 (B) $1,804 $1,848 $2,010 $2,618 Instructions 20 Elf Inc. has the following four year project: initial cost is $14,000; annual cash inflows are $3,550,$4,970, $3,480, and $4,000 respectively. Calculate the payback period. 3.1 years 3.3 years 3.5 years (D) 3.7 years (E) 3.9 years 11 You are borrowing some money from your sister Atosa, and she wants to earn an effective rate of 16 percent. What annual percentage rate must she charge if the loan has interest compounded monthly? (A) 13.17% (B) 14.93% 15.23% 15.41% E) 16.00%