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Your grandmother is gifting you $125 at the end of each month for four years while you attend college to earn your bachelors degree. At a 6.5 percent (APR) discount rate, what are these payments worth to you on the day you enter college?

$5,201.16

$5,270.94

$5,509.19

$5,608.87

$5,800.00

Meadow Brooke Manor would like to buy some additional land and build a new assisted living center. The anticipated total cost is $20.5 million. The CEO of the firm is quite conservative and will only do this when the company has sufficient funds to pay cash for the entire construction project. Management has decided to save $1.2 million a quarter for this purpose. The firm earns 6.25 percent, compounded quarterly, on the funds it saves. How long does the company have to wait before expanding its operations?

3.09 years

3.82 years

4.46 years

4.82 years

4.91 years

Getty Markets has bonds outstanding that pays a 5 percent semiannual coupon, have a 5.28 percent yield to maturity, and a face value of $1,000. The current rate of inflation is 4.1 percent. What is the real rate of return on these bonds?

0.86 percent

0.90 percent

1.04 percent

1.13 percent

1.19 percent