a. An initial investment of $44,220 is to be returned in six equal annual payments. Determine the amount of each payment if the interest rate is 16 percent

b. proposed investment will provide cash flows of $9,000, $12,000 and $10,000 at the end of Years 1, 2, and 3, respectively. Using a discount rate of 16 percent, determine the present value of these cash flows.

	Present Value
Year 1	Answer
Year 2	Answer
Year 3	Answer
Total	Answer

c. Find the present value of an investment that will pay $9,000 at the end of Years 8, 9, and 10. Use a discount rate of 12 percent.

d. Find the present value of an investment that will pay $7,500 at the end of Years 10, 11, and 12. Use a discount rate of 14 percent.