If money is invested for 5 years at a simple interest rate of 11.3% per annum, the nominal interest rate per annum, compounding monthly, is (as a percentage rounded to three decimal places; no % sign): Answer: You are given the equation below. PV --(-atoma+o Which of the following statements is FALSE? Select one: A. The equation will indicate the present value of an annuity of 10 payments, where the first payment is made at the beginning of the first period. B. The equation will indicate the present value of an annuity of 10 payments, where the first payment is made at the end of the first period. C. The equation will indicate the present value of an annuity of 10 payments, where the first payment is made now. D. The equation is suitable to calculate the present value of an annuity due. An advertised investment product promises to pay $432 per month for 36 months commencing in 1 month from today. If the investment earns 13.7% p.a compounding monthly, how much will the investment product cost today? (round to nearest cent; don't use $ sign or commas) a. $12693.90 b. $12838.82 O c. $1008.02 d. $1146.11 Jill borrows $300,000 for 10 years at a fixed interest rate of i%p.a (EAR). If the loan is repaid in 10 equal year-end payments over the 10 years, the amount of the loan outstanding at the end of the 5th year will be: Select one: a. Less than $150,000 b. Greater than $150,000 c. Equal to $150,000