18.Suppose that you will receive annual payments of $19,000 for a period of 10 years. The first payment will be made 6 years from now. If the interest rate is 7%, what is the present value of this stream of payments?

Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

17. I now have $27,000 in the bank earning interest of 0.75% per month. I need $37,000 to make a down payment on a house. I can save an additional $100 per month. How long will it take me to accumulate the $37,000?

Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Use a financial calculator or Excel.

22. In December 2020, a pound of lemons cost $1.50, while a pound of bananas cost $1.14. Four years earlier, the price of lemons was $1.29 a pound and that of bananas was $1.00.

What was the annual compound rate of growth in the price of lemons?

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places. Negative answers should be indicated with a minus sign.

What was the annual compound rate of growth in the price of bananas?

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 4 decimal places.

If the same rates of growth persist in the future, what will be the price of lemons in 2030?

Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

What about the price of bananas?

Note: Do not round intermediate calculations. Round your answer to 2 decimal places.