McCann Co. has identified an investment project with the following cash flows. Year WN - Cash Flow $950 1,050 1,250 1,110 a. If the discount rate is 8 percent, what is the present value of these cash flows? $3,588.01 $4,360.00 $3,875.05 $3,672.15 b. What is the present value at 18 percent? $2,892.49 $4,360.00 $3,413.14 $2,951.82 c. What is the present value at 28 percent? $2,392.61 $4,360.00 $3,062.54 $2,350.53 You need a 30-year, fixed-rate mortgage to buy a new home for $210,000. Your mortgage bank will lend you the money at a 6.1 percent APR for this 360-month loan. However, you can afford monthly payments of only $900, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. How large will this balloon payment have to be for you to keep your monthly payments at $900? Multiple Choice $61,483.87 $370,065.54 $396,771.3 $381,510.86 $37,083.77 You want to buy a new sports car from Muscle Motors for $60,000. The contract is in the form of an annuity due for 60 months at an APR of 6.75 percent. What will your monthly payment be? Multiple Choice $1,181.01 $1,150.91 $1,115.68 $1,197.89 $1,174.40