6. You have just signed a contract for your rental property and you will make monthly payments at the beginning of each month. Your monthly payments is $1000 and the monthly rate is 4% per month. Calculate the present value of your rental payments for the first year.

	$11367.63
	$10786.85
	$10252.62
	$9760.48

14. What is the quarterly period rate if APR compounded quarterly is 20%?

	0.05%
	1.67%
	5.00%
	10.00%

17. ABC Bank pays 1% interest per month. If you invest $3000 today and keep in the bank for a year what is the compound (total interest)?

	$380.48
	$507.30
	$634.13
	$760.95

18. An investment offers you $4500 in five years from now if you invest $2750 today. How much return does this investment offer?

	12.47%
	10.35%
	8.45%
	6.72%

19. After taking her FIN325 class Maria decided to invest $5000 after she graduates in 2 years. She hopes that she can gain 10% interest rate on her investment. How long does she need to wait from today until her money grows to $15000?

	8.03
	8.64
	9.86
	13.53