A. At what rate must $5,000 be compounded annually for it to grow to $8,954.50 in 7 years?

6%

8.68%

12.36%

10.20%

B.

Which of the following is not an annuity:

A. 15 year amortizing commercial real estate loan with a fixed interest rate

B.30 year mortgage with a fixed interest rate

C. 5 year amortizing equipment loan

D.floating loan that adjusts based on SOFR rate

C. The present value of an annuity due is an ordinary due times (1+r).

r = i