(Present value) The Kumar Corporation is planning on issuing bonds that pay no interest but can be converted into $1,000 at maturity, 14 years from their purchase. To price these bonds competitively with other bonds of equal risk, it is determined that they should yield 16 percent, compounded annually. At what price should the Kumar Corporation sell these bonds? Kumar Corporation should sell these bonds at $ (Round to the nearest cent.) (Solving for r of an annuity) You lend a friend $50,000, which your friend will repay in 13 equal annual end-of-year payments of $8,000, with the first payment to be received 1 year from now. What rate of return does your loan receive? The rate of return your loan will receive is \%. (Round to two decimal places.) (Solving for r in compound interest) You lend a friend $18,000, for which your friend will repay you $88,000 at the end of 13 years. What interest rate are you charging your friend? The interest rate you are charging your friend is \%. (Round to two decimal places.)