5) Jackson has a loan that requires a $17,800 lump sum payment at the end of four years. The interest rate on the loan is 5%, compounded annually. How much did Jackson borrow today? (Use appropriate factor(s) from the tables provided.) A) $12,045 B) $14,240 C) $16,910 D) $14,644 E) $16,065

16) Patricia wants to invest a sum of money today that will yield $10,000 at the end of 6 years. Assuming she can earn an interest rate of 6% compounded annually, how much must she invest today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $6,000 B) $8,306

C) $8,836 D) $9,400

E) $7,050

17) Sweet Company's outstanding stock consists of 1,000 shares of cumulative 5% preferred stock with a $100 par value and 10,000 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.

	Dividend Declared
year 1	$	2,000
year 2	$	6,000
year 3	$	32,000