7. A security is currently selling for $8,000 and promises to pay $1,000 annually for the next 9 years, and $1,500 annually in the 3 years thereafter with all payments occurring at the end of each year. If your required rate of return is 7% p.a., should you buy this security? 8. What is the present value of perpetuity of $5,000 received annually if the required rate of return is 7%? 9. You have just made your first $1,000 contribution to your individual retirement account (IRA). Assume you earn a 12% rate of return and make no additional contributions. 9a. When you retire in 32 years, the account will be worth $ 9b. If you wait 5 years before making your initial contribution, the account will be worth