Ethan sells his car to Seamus. Seamus promises to pay Ethan 1,000 at the end of each year for 11 years. What is the present value of Seam's promised payments if the interest rate is 9%? What is the present value of Seamus's promised payments? (Round to the nearest cont.) You are trying to calculate how much money you should have at retirement. On your 54th birthday you will retire and immediately make your first withdrawal of $5,833 33. You plan to make 24 such withdrawals each year. You plan to continue withdrawing at that level and frequency until you are 84 years old. (Assume beginning of period withdrawals with the first withdrawal on your retirement date and no withdrawal on your final birthday.) During retirement your savings will eam only 3.7% per annum. How much do you have to have saved at retirement to find these planned withdrawals? How much do you have to have saved at retirement to find these planned withdrawals? (Round to the nearest cent.) In 1752. Britain consolidated all government debt into a single issue called 'Consol' bonds. Consol bonds were perpetual and initially paidan annual coupon of 3.5%. Since issue, the coupon rate has been changed from time-to-time assume that it is currently 551 per year (in equivalent USS) with the next coupon due in one year. What is the fair price for a Consol bond (present value of the stream of coupon payments) if the appropriate interest rate is 12%? What is the fair price of the Consol bond in equivalent USS? (Round to the nearest cent.)