monthly is closest to: A. 7.72% B. 8.00% C. 8.30% D. 8.66% 17. Consider a growing annuity which will last for 30 years. The first payment will occur three years from today and you will receive $500. Every three years, you will receive a payment that is 5% higher than the previous payment. If the interest rate is 5% per year, what is the present value of these cash flows? A. 2895 B. 4645 C. 4762 D. infinity 18. Suppose a five-year bond with a 7% coupon rate and semiannual compounding is trading for a price of $951.58. Expressed as an APR with semiannual compounding, this bonds yield to maturity (YTM) is closest to: A. 7.0% B. 7.5% C. 7.8% D. 8.2% o