Jose plans to retire in $7$ years with $$298,000\mathrm{.}00$ in his account, which has an annual return of $8\mathrm{.}89$ percent. If he receives payments of $$58,145\mathrm{.}95$ per year and he receives his first $$58,145\mathrm{.}95$ payment in $8$ years, then how many payments of $$58,145\mathrm{.}95$ can Jose expect to receive?

$3\mathrm{.}08$ payments

$7\mathrm{.}14$ payments

$6\mathrm{.}36$ payments

$3\mathrm{.}39$ payments

the answer cannot be obtained based on the given information

QUESTION $2$

An investment, which is worth $$62,000\mathrm{.}00$ and has an expected return of $14\mathrm{.}40$ percent, is expected to pay fixed annual cash flows for a given amount of time. The first annual cash flow is expected later today and the last annual cash flow is expected in $4$ years from today. What is the present value of the annual cash flow that is expected in $4$ years from today?

$$9,305\mathrm{.}51($plus or minus $10$ dollars$)$

$$21,453\mathrm{.}43($plus or minus $10$ dollars$)$

$$10,645\mathrm{.}50($plus or minus $10$ dollars$)$

$$10,948\mathrm{.}80($plus or minus $10$ dollars$)$

none of the answers are within $10$ dollars of the correct answer

QUESTION $3$

A factory is worth $$3,400\mathrm{.}00.$ It is expected to produce equal monthly cash flows of $$175\mathrm{.}76$ for $10$ months with the first monthly cash flow expected later today. The factory is also expected to make an extra cash flow of $$2,000\mathrm{.}00$ in $10$ months. What is the monthly cost of capital for the factory?

$1\mathrm{.}28\%($plus or minus $10$ bps$)$

$1\mathrm{.}37\%($plus or minus $10$ bps$)$

$1\mathrm{.}86\%($plus or minus $10bps)$

$1\mathrm{.}74\%($plus or minus $10bps)$

none of the answers are within $10bps$ of the correct answer