John invested $10,000 into a money market account and took out $2,000 at the end of year 1. He found out at end of 7 years that the rest of the money in the account grew to a sum of $29, 860. What is the annual interest rate John earned in this investment? A. 8% B. 20% C. 22% D. 25% TRUE/FALSE In order to use the gradient series factors to solve a set of given cash flows, the cash flow in year 1 must be "0" and the cash flows in subsequent years must increase gradually by the same amount every year. True/False A positive cash flow is the amount of money that is coming to you. True/False The weekly payment for a Si.000 loan to be paid back in 52 weeks at an interest rate of 1/2% per week is $25.85. True/False Philipp Inc. a German company, is considering the following two equipment alternatives for the plant in Tennessee. The cost information for the two machines are consideration are in table below. The NPW of machine X is __. A. $16, 970 B. $17, 150 C. $18, 100 D. $ 19, 400