• 3years.

• 5 years.

• 6 years.

• 4 years.

• $41,944.

• $42,189.

• $43,987.

• $41,189.

Present and future value tables of $1 at 9% are presented below. FVAD $1 FV $1 1.09000 1.18810 PV $1 0.91743 0.84168 PVA $1 0.91743 1.75911 2.53129 3 FVA $1 1.0000 2.0900 3.2781 4.5731 5.9847 7.5233 PVAD $1 1.00000 1.91743 2.75911 3.53129 4.23972 1.29503 1.41158 1.53862 0.77218 0.70843 0.64993 1.0900 2.2781 3.5731 4.9847 6.5233 8.2004 3.23972 3.88965 4.48592 6 1.67710 0.59627 4.88965 You want to invest $7,900 annually beginning now in order to accumulate $27,900 for a down payment on a house. If you can invest at an interest rate of 9% compounded annually, about how many years will it take to accumulate the required amount? Present and future value tables of $1 at 3% are presented below: N 1 2 TT 3 4 PV $1 0.97087 0.94260 0.91514 0.88849 0.86261 0.83748 0.81309 0.78941 5 FVA $1 1.0000 2.0300 3.0909 4.1836 5.3091 6.4684 7.6625 8.8923 10.1591 11.4639 FV $1 1.03000 1.06090 1.09273 1.12551 1.15927 1.19405 1.22987 1.26677 1.30477 1.34392 1.38423 1.42576 1.46853 1.51259 1.55797 1.60471 FVAD $1 1.0300 2.0909 3.1836 4.3091 5.4684 6.6625 7.8923 9.1591 10.4639 6 PVA $1 0.97087 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 7.01969 7.78611 8.53020 9.25262 9.95400 7 PVAD $1 1.00000 1.97087 2.91347 3.82861 4.71710 5.57971 6.41719 7.23028 8.01969 8.78611 9.53020 10.25262 10.95400 11.63496 12.29607 8 9 IT 10 11.8078 0.76642 0.74409 0.72242 0.70138 11 13.1920 12 13 12.8078 14.1920 15.6178 17.0863 18.5989 20.1569 0.68095 0.66112 0.64186 0.62317 14 15 14.6178 16.0863 17.5989 19.1569 10.63496 11.29607 11.93794 12.56110 LI 16 20.7616 12.93794 Rosie's Florist borrows $410,000 to be paid off in six years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment