If you deposit S15,000 per year for 9 years (each deposit is made at the beginning of each year) in an account that pays an annual interest rate of 8%, what will your account be worth at the end of 9 years? You plan to accumulate $450,000 over a period of 12 years by making equal annual deposits in an account that pays an annual interest rate of 9% (assume all payments will occur at the beginning of each year). What amount must you deposit each year to reach your goal? You are told that if you invest $11, 100 per year for 19 years (all payments made at the beginning of each year) you will have accumulated $375,000 at the end of the period. What annual rate of return is the investment offering? You plan to buy a car that has a total "drive-out" cost of $25, 700. You will make a down payment of $3, 598. The remainder of the car's cost will be financed over a period of 5 years. You will repay the loan by making equal monthly payments. Your quoted annual interest rate is 8% with monthly compounding of interest. (The first payment will be due one month after the purchase date.) What will your monthly payment be? You are considering leasing a car. You notice an ad that says you can lease the car you want for S477.00 per month. The lease term is 60 months with the first payment due at inception of the lease. You must also make an additional down payment of $2, 370. The ad also says that the residual value of the vehicle is $20, 430. After much research, you have concluded that you could buy the car for a total "driveout" price of $33, 800. What is the quoted annual interest rate you will pay with the lease? You are valuing an investment that will pay you $12,000 the first year. $14,000 the second year, SI7,000 the third year, $19,000 the fourth year, $23.000 the fifth year, and $29,000 the sixth year (all payments are at the end of each year). What it the value of the investment to you now is the appropriate annual discount rate is 11.00%