5. XYZ Bank has just given you a $20,000 loan to buy some new equipment. The loan requires five equal payments, with the first payment one year from today. If the bank wants a 12% ratum, what is the amount of your annual payment? 6. ZY Bank has granted you a 7 -year loan of $50,000. Your first of seven annual payments of $12,600 is due 1 year from today. What rate of interest is the Bank charging? 7. You have decided to put $2,400 per year into an investment account for 40 years. At the time of your 40 th payment, how much will be in the account if you can eam 10% per year? 8. You want to have $200,000 in an account 20 years from today. You will make 20 payments of A, with the first payment 1 year from today. If the account pays an 11% interest rate, what is the value for A ? 9. If you buy an annuity today for $109,296, beginning 1 year from today you will get $12,000 per year for 15 years. What rate of retum are you earning