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Annuity Challenger Solve the following three problems in the space provided Do not round any calculations Al calculations should result in positive numbers Problem 1 You plan to buy a home for $220.000. Your sign a 30-year mortgage with an APR o 45% you were to add $100 to each monthly payment, how many monthly payments would you actually have to make? $220,000 12 $100 Contractual Monthly Payment Actual Monthly Payment Number of payments to make Problem 2: You win the NY Loto and are offered the choice of 20 annual payments (beginning today) of $300.000 or a lump sum today) of $4250,000. Which is the best financial choice? How much more in present value do you earn by making the correct choice? The discount rate is 32% $300.000 $4,250.000 PV of Annuity Option PV of Lumo Sun Derence in PV Correct choice? Problema: main Type here to search o Et a Bea