6-5)Assume that you will receive $3000 a year in Years 1 through 4, $2000 in Years 6 through 8, and 5000 in Year 9, with all cash flows to be received at the end of the year. If you require a 14 percent rate of return, what is the future value of these cash flows?

6-6)You borrow $150,000. You make annual payments (at the end of each year) for 8 years. The interest rate is 12%. A) What is your annual payment? B) How much interest do you pay in year 3?

6-7)You are currently investing your money in a bank account which has a nominal annual rate of 7.25 percent, compounded annually. How many years will it take for you to double your money?

6-8)The South Penn Trucking is financing a new truck with a loan of $20,000 to be repaid in 5 annual end-of-year installments of $5009.12. What annual interest rate is the company paying?