If an investor offers $600 at the end of each year for three years and if the interest rate is 8%, the maximum you pay him (PV) of this ordinary annuity is O $1,441.10 O $2,300.00 $1,546.26 O $1,200.92 D Question 16 1.25 pts Referring to the 15 question, assume that instead of getting the payment of $600 at the end of the year, the investor offers to give you the money at the beginning of the year, the maximum amount of money you offer him today (present value for this annuity due) is $1,614.03 $1,367.77 $2.530.00 $1,669.96 If you are offered an interest rate of 8% that is compounded semi-annually, the effective rate you pay will be O 8.47% 8.00% O 8.98% 8.16% Question 18 1.25 pts If a bank offers you an interest rate on loan of 12% compounded annually, the effective interest rate you pay is 12.00% 14.99% 13.30% 15.00%