9. What is the present value of receiving $200.000 at the end of each year forever if you can earn 8% on your money? 10. What is the effective annual rate of 12% compounded quarterly? 11. At the end of each of the next 6 years you will receive cash flows of $12,000. If the appropriate discount rate is 6%, how much would you pay for the annuity? 12. Mr. J. won a lottery that pays $100.000 at the end of each of the next 10 years. If he can earn 5% on his money, how much has he actually won in today's dollars? 13. Your parents placed $300.000 in a bank account paying 7% interest. How much can you withdraw from the account each and every year for 10 years? (The same amount is drawn out at the end of each year)