5. If I want to take $ 1,000 every month for twenty four consecutive months and the interest rate is 9%, the lump-sum amount I need to deposit now will be closest to: a. $ 20,889.15 b. $ 21,053.31 c. $ 21,889.15 d. $ 22,053.3

6. If $ 10,000 is invested today in an account that earns interest at a rate of 9.5%, what is the value of equal withdrawals that can be taken out of the account at the end of each of the next five years if the investor plans to deplete the account at the end of the time period: a. $2,000 b. $2,453 c. $2,604 d. $2,750

7. If $10,000 is borrowed at 10% interest to be paid back over 10 years, how much of the second years payment is interest (assume annual loan payments)? a. $954.25 b. $937.26 c. $1,000.00 d. $1,037.26