2. To study finance at the micro level is to study of all but which of the following? a. fund raising for business firms b. financial institutions c. asset management d. financial planning 3. A famous athlete is awarded a $9 million contract that stipulates equal payments to be made monthly over a period of five years. To determine what such a contract is worth today, you would need to use: a. present value factors b. future value factors c. present value factors of an annuity d. future value factors of an annuity 4. Which of the following terms best describes an annuity due? a. a perpetuity b. unequal payments c. payment at beginning of year d. payment at the end of the year 5. A potential investment pays $10 per year indefinitely. The appropriate discount rate for the potential investor is 10%. The present value of this cash flow is calculated by: a. multiplying $10 by the appropriate present value factor b. dividing $10 by 10 c. multiplying $10 by the present value factor of an annuity d. dividing $10 by.10