#9:

What is the present value of an ordinary annuity that pays $900 at the end of each of the next 18 years? Use a nominal rate (monthly compounding) of 8.50%. (Hint: use EAR).

#10:

You currently have $3,000 in an account, and you plan to deposit $1,000 into the account at the end of each of the next 6 years. If the account earns a nominal rate (monthly compounding) of 5.10%, how much will be in the account at the end of the 6th year? (Hint: use EAR).

Question 9 1 pts What is the present value of an ordinary annuity that pays $900 at the end of each of the next 18 years? Use a nominal rate (monthly compounding) of 8.50%. (Hint: use EAR). O $8,053 $8,290 $8,212 $8,700 $7,965 Question 10 1 pts You currently have $3,000 in an account, and you plan to deposit $1,000 into the account at the end of each of the next 6 years. If the account earns a nominal rate (monthly compounding) of 5.10%, how much will be in the account at the end of the 6th year? (Hint: use EAR). $10,839 $10,140 $11,559 $10,301 $10,911