How long does it take a lump sum to double in value if the rate is $6\mathrm{.}7\%?$

$11\mathrm{.}01$ years

$10\mathrm{.}69$ years

$9\mathrm{.}94$ years

$9\mathrm{.}46$ years

none of these

QUESTION $18$

A $$310,000$ monthly compounded home loan has a stated interest rate of $9\%$ and a term of $30$ years. What is the monthly payment on the loan?

$$2,494$

$$1,920$

$$1,799$

$$2,106$

none of these

QUESTION $19$

What is the present value of a series of unequal payments as follows using a $5\%$ rate?

year $1$: $$1,000$; year $2$:$$1,800$; year $3$:$$3,000$; year $4$:$$2,000$

$$6,550$

$$6,641$

$$6,822$

$$7,597$

none of these