Calculate the Present Value of Annuity of receiving $5,000 each year for the next 12 years with interest rate of 7%. 8 Calculate the Future Value of Annuity of investing $6,000 each year starting now for 10 years at 5% interest rate. 9 How much would you pay today to receive $15,000 in 8 years? Assume a 5% interest rate. 10 How much would your CD of $1,000 be worth in 6 years at an interest rate of 4%? 11 How much would you pay today for an investment in which you would receive $5,000 each year for the next 7 years? Assume an interest rate of 6%. 12 If you save $10,000 per year for 4 years assuming an interest rate of 7%, how much money would you have? 13 Suppose you win a small lottery. You can receive $9,000 now or you can receive $2,100 a year for the next 5 years. Assume 6% interest rate. Which method would be the best choice? 14 Calculate the effective annual rate of 12% assuming quarterly compounding