Chapter 04 5 0.8 points Skipped eBook References Saved You have just received notification that you have won the $2.17 million first prize in the Power Lottery. However, the prize will be awarded on your 100th birthday (assuming you're around to collect), 63 years from now. What is the present value of your windfall if the appropriate discount rate is 10 percent? (Do not round Intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) Present value LO 5 1 points Skipped eBook Hint References First American Bank charges 11.1 percent compounded monthly on its business loans. First Fifth Bank charges 11.3 percent compounded semiannually. Calculate the EAR for each bank. (Do not round Intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) First National Bank % First United Bank % As a potential borrower, which bank would you go to for a new loan? One year ago, the Jenkins Center deposited $4,800 into an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $6,600 to this account. They plan on making a final deposit of $8,800 to the account next year How much will be available when they are ready to buy the equipment, assuming they earn a rate of return of 9 percent? Multiple Choice ped 3. ces $26.935.83 $28.098.09 $26,077.59 $25,41570 O $2785.42 G Your parents are giving you $235 a month for 4 years while you are in college. At an interest rate of .54 percent per month, what are these payments worth to you when you first start college? Multiple Choice $9,41755 $9.731.75 $12.83751 $9,582.77 O $8,91322 O