ACC sert Page Layout Formulas Data Review View Calibri (Body) 11 A A til B U I X & fe C D E FI G lease type your solutions beneath each problem or to the right of each problem. Present & Future Value Problems Dickey Debit wants to save $500,000 to send his children to college in 15 years. He has been presented with an investment program which will earn interest at an annual rate of 4.5%. Dickey need to know how much he needs to deposit each year-end, for 15 years, such that he will have $500,000 at the end of that period. Rodney borrowed $10,000,000 for a modest vacation home in Lajolla, CA. The lender, Scrooge National Bank requires that he repay the loan in twenty Installments of $ 735,818 The first payment is due in six months and the remaining payments every half year thereafter. What is the ANNUAL rate of interest on the Scrooge loan? AWE HASA Py