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An investment will pay $100 at the end of each of the next 3 years, $250 at the end of Year 4, $350 at the
An investment will pay $100 at the end of each of the next 3 years, $250 at the end of Year 4, $350 at the end of Year 5, and $500 at the end of Year 6. If other investments of equal risk earn 6% annually, what is its present value? Its future value? Do not round intermediate calculations. Round your answers to the nearest cent. Present value: $ Future value: $ You want to buy a car, and a local bank will lend you $15,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 7% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places. Monthly loan payment: $ EAR: % Find the present values of these ordinary annuities. Discounting occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent. a. $200 per year for 14 years at 8%. $ b. $100 per year for 7 years at 4%. $ c. $400 per year for 7 years at 0%. $ d. Rework previous parts assuming they are annuities due. Present value of $200 per year for 14 years at 8%: $ Present value of $100 per year for 7 years at 4%: $ Present value of $400 per year for 7 years at 0%: $ You borrow $210,000; the annual loan payments are $13,660.80 for 30 years. What interest rate are you being charged? Round your answer to the nearest whole number
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