A property bought 9 years ago for $500,245 is priced today at $1,000,000. What has been the annual growth rate of the property's price?

a. 12%

B. 10%

c. 8%

d. 6%

e. none of the above

You have today taken a 25-year, $100,000 mortgage loan at 12% annual interest rate, to be repaid in equal monthly payments at each month-end over 25 years. What will be the monthly payment?What will be the principal outstanding at the end of 5 years from today (i.e. after the 60^th monthly payment)?

3.You are today getting fencing done in your backyard. A professional company is doing the job and will be paid over a 4-year period with year-end payments of $6,861.64. The market interest rate is 10%. How much will I be paying for the fencing job in today's dollars?

a)	$17,075.03
b)	$23,926.22
c)	$36,602.50
d)	None of the above

Today you plan to deposit a lumpsum amount in a bank account that will earn an annual interest rate of 5%. The purpose of this deposit is to earn $2,000 interest income every year to donate to charity at each year-end forever. What lumpsum amount must you deposit today?

Question 16 options:

a)	$40,000
b)	$50,000
c)	$80,000
d)	$140,000
e)	None of the above