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If you put up $37,000 today in exchange for a 7.25 percent, 17-year annuity, what will the annual cash flow be? Multiple Choice $3,855.61 $4,124.17
If you put up $37,000 today in exchange for a 7.25 percent, 17-year annuity, what will the annual cash flow be? Multiple Choice $3,855.61 $4,124.17 $2,176.47 $3,595.23 O O $9,255.04 Big Dom's Pawn Shop charges an interest rate of 21 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers. a. What rate should the shop report? b. What is the effective annual rate? Mo will receive a perpetuity of $13,000 per year forever, while Curly will receive the same annual payment for the next 45 years. If the interest rate is 5.7 percent, how much more are Mo's payments worth? Multiple Choice $18,823.23 $19,764.39 O $16.764.44 O $18,235.00 $17,646.77
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