P9. Assume you are planning to invest $5,000 each year for 6 years and will earn 10% per year. Determine the future value of the annuity if your first $5,000 is invested at the end of the first year. P11. What is the present value of a loan that calls for the payment of $500 per year for 6 years if the discount rate is 10% and the first payment will be made one year from now? How would your answer change if the $500 per year occurred for 10 years? P12. Determine the annual payment on a $500,000, 12% business loan for a commercial bank that is to be aromatized over a 5 year period. P13. Determine the annual payment on a $15,000 loan that is to be amortized over a 4 year period and carries a 10% interest rate. Also prepare a loan amortization schedule for this loan. P15. Assume a bank loan requires an interest payment of $85 per year and a principal payment of $1,000 at the end of the loans 8 year life. a. How much could this loan be sold for to another bank if loans of familiar quality carried an 8.5% interest rate? That is, what would be the present value of this loan? b. Now, if the interest rates on other similar quality loans are 10%, what would be the present value of this loan? c. What would be the present value of the loan if the interest rate is 8% on similar-quality loans