5. Today, you are purchasing a 20-year, 6 percent annuity at a cost of S120,000. The annuity will pay annual payments starting one year from today. What is the amount of each payment? 6. The Furniture Hut is offering a bedroom suite for $2,222. The credit terms are 60 months at $50 per month. What is the interest rate on this offer? 7. The Furniture Showroom offers credit to its customers at a rate of 1.4 percent per month. What is the effective annual rate of this credit offer? 8. A S1,000 face value bond currently has a yield to maturity of 6.25 percent. The bond matures in 3 years and pays interest annually. The coupon rate is 7 percent. What is the current price of this bond? 9. Shoreline Foods pays a constant annual dividend of $1.60 a share and currently sells for $28.50 a share. What is the required expected rate of return