8. A bank has offered you a $500,000 mortgage at a quoted rate of 4%. The mortgage calls for monthly payments based on a 20-year amortization period. What discount rate would you use to find the amount of your monthly payments?

9. A company is considering a 5-year project that would require an intial cash outflow in the amount of $2,000,000 at the beginning of project (i.e. t=0). The project has expected cash inflows in the amount of $600,000 at the end of each of the 5 years. The company requires a 12% return on investment. What is the NPV for this project?