Q1: You are scheduled to receive a $1,000 cash flow in one year, a $1,500 cash flow in two years, and pay a $700 payment in three years. If interest rates are 8 percent per year, what is the combined present value of these cash flows? (Round your answer to two decimal places.)

Q2: A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $900 per month for the next two years and then $1,800 per month for three years after that. If the bank is charging customers 8.5 percent APR, how much would it be willing to lend the business owner? (Round your answer to two decimal places.)

Q3: What is the present value of a $70 payment made every year, forever, when interest rates are 6.5 percent? (Round your answer to two decimal places.)

Q4: What is the present value of a $1,000 annuity payment over four years if interest rates are 7 percent? (Round your answer to two decimal places.)

Q5: If the present value of an ordinary, eight-year annuity is $7,800 and interest rates are 6 percent, what is the present value of the same annuity due? (Round your answer to two decimal places.)

Q6: You wish to buy a $10,000 dining room set. The furniture store offers you a three-year loan with an 11 percent APR. What are the monthly payments? (Round your answer to two decimal places.)

Q7: Phoebe realizes that she has charged too much on her credit card and has racked up $5,000 in debt. If she can pay $250 each month and the card charges 20 percent APR (compounded monthly), how long will it take her to pay off the debt, in months? (Round your answer upwards to the nearest whole number of months and do not use decimals. For example, 9.6 months rounds to 10 months.)