Answers Answers should be positive numbers/percentages! Annual Interest Rate = Monthly Interest Rate x 12 What is the future value of $5,000 in three year, compounded monthly at a monthly interest rate of 1.07 %? Find the monthly interest rate if you can pay back a loan of 17,500 TRY with monthly payments of 450 TRY for 4 years. What is the net present value of a series of 9 monthly payments of 150 TRY at an annual interest rate of 12.6 % where the first payment is now? Suppose you obtain a consumer credit of 160,000 TRY from the bank with an annual interest rate of 13.4 % and a payback period of 6 years. What are your monthly payments if the payments are to be made at the end of each month? As of 2013, Turkey's GDP (The Gross Domestic Product) is $821,800 million, and Canada's GDP is $1,825,000 million. Assuming Canadian GDP continues to grow at an annual rate of 3.2% over the next 10 years. What must be the growth rate of the Turkish GDP so it is equal to the Canadian GDP in 10 years