19. Tropical Tans is saving purpose. Today, that account is worth $16,418 What rate of interest is A. 11.14 percent B. 11.23 percent C. 10.97 percent D. 11.01 percent E. 10.88 percent money to build a new salon. Three years ago, they set aside on this money? 20. You are you with $20, by four annual payments of $3,000 each. following statements is correct given these two investment options? A. Option A is the better choice. B. Option B has a higher present value than option A C. Option A is preferable because it is an annuity due. D. Option B is a perpetuity E. Both options are of equal value given that they both provide $20.000 of income. comparing two investment options that pay 7 percent interest annually. Both options will provide 000 of income. Option A pays five annual payments starting with $8,000 the first year followed Option B pays five annual payments of $4,000 each. Which one of the 21. Priestly Engineers will need $145,000 to buy some new equipment two years from now. The plan is to se aside an equal amount of money on the first day of each quarter starting today. The firm can earn a stated annual rate of return of 5.5 percent, compounded quarterly. How much does the firm have to save each quar to achieve their goal? A. $17,036.35 B. $17,084.43 C. $17,270.60 D. $17,421.18 E. $17,308.67 2. Today, you signed loan papers agreeing to borrow $35,000 at a stated annual interest rate of 9.75 mpounded monthly. The loan payment is $700 a month. How many loan payments must you make an is paid in full? 63.25 63.74 63.48 64.42 2.00