3d3.

You have been offered the opportunity to invest in a project that will pay $3,030 per year at the end of years one through three and $9,065 per year at the end of years four and five. These cash flows will be placed in a saving account that pays 10.97 percent per year. What is the future value of this cash flow pattern at the end of year five?

Round the answer to two decimal places.

Your Answer:

3c1.

Big Brothers, Inc. borrows $203,658 from the bank at 19.13 percent per year, compounded annually, to purchase new machinery. This loan is to be repaid in equal annual installments at the end of each year over the next 6 years. How much will each annual payment be?

Round the answer to two decimal places.