2. You would like to invest money into an annuity so that when you retire you will receive a monthly payment. You plan to retire when you turn 75. You hope to live until you turn 100. Given an interest rate of 3.25% APR, how much money will your monthly payment be if at age 75 you invested $1,250,000? 3. You receive a settlement that pays $2,000,000 today, or you could receive a PMT each year for the next 20 years. if your assumed interest rate is 5% APR (meaning you could invest the money somewhere else for 5%) what does the annual payment have to be in order to be same as receiving the $2,000,000 today? 4. You borrow money from a bank to purchase a tractor. You borrow $125,000 for 6 years , making annual payments at an interest rate of 3.75% APR. What is your annual payment? 5. You borrow money to buy a car. You borrow $30,000 for 5 years, making monthly payments at an interest rate of 4.55% APR. What is your monthly payment? 6. By the time you retire you would like to have $1,000,000 saved up at age 70. You are currently 20. How much money do you need to save monthly starting now in order to r each your goal, given an interest rate of 4% APR? :tac'n 5? Annapr-'LHIO... (mus. ._ _