If you invest $26,000 at 7% interest, how much will you have in 15 years? Use Appendix A. (Round "FV Factor" to 3 decimal places.)

rev: 07-23-2011

Multiple Choice

• $126,506

• $9,412

• $71,734

• $35,412

John Doeber borrowed $150,000 to buy a house. His loan cost was 6% and he promised to repay the loan in 15 equal annual payments. How much are the annual payments?

Multiple Choice

• $3,633

• $9,250

• $13,113

• $15,445

Ali Shah sets aside $2,000 each year for five years. He then withdraws the funds on an equal annual basis for the next four years. If Ali wishes to determine the amount of the annuity to be withdrawn in years 6 through 9, he should use the following two tables in this order:

Multiple Choice

• present value of an annuity of $1; future value of an annuity of $1

• future value of an annuity of $1; present value of an annuity of $1

• future value of an annuity of $1; present value of $1

• future value of an annuity of $1; future value of $1