Question 1 1 pts You are considering the purchase of a delayed annuity. The annuity will pay you $300 per year for 15 years, but you will not receive the first payment one year from now--the first payment will be received 6 years from now. If the interest rate is 9%, what is the most you would pay for the delayed annuity today? Round your answer to 2 decimal places, for example 100.12. Question 2 1 pts Your credit card will charge you 16% APR in your balance. The interest is compounded monthly. What is the EAR? Enter your answer as a decimal number, NOT as a percent. Round to 4 decimals. For example, 0.1234 Question 3 1 pts Three months ago you purchased FSL stock for $29 per share. Today you sold the stock for $32 per share. What is your annualized return on this investment expressed as an APR? Enter your answer as a decimal number, NOT as a percent. Round to 4 decimals. For example, 0.1234 Question 4 1 pts You have a loan from a bank that has an EAR of 12%. If the interest is compounded quarterly, what is the APR? Enter your answer as a decimal number, NOT as a percent. Round to 4 decimals. For example, 0.1234 Question 5 1 pts You took out a 30-year mortgage on a $243,000 home. The mortgage payments are made monthly, and the interest rate is 6% APR. 5 years later you decide to pay off the loan. What is the balance on your mortgage at this time? Round your answer to the nearest dollar, for example 1412. Question 6 1 pts You borrowed $4,000. You will pay back the loan in 5 annual payments. The interest rate is 13%. What is the amount of interest in the second payment? Round your answer to 2 decimals, for example 100.12. Question 7 1 pts 3 months ago (1 quarter of a year), you purchased a share of XYZ Corp for $37.25. Today you sold the share for $33.92. What is the APR for this investment? Enter your answer in decimals (not percent) and round to 4 decimal places, for example 0.1234. Question 8 1 pts You deposit $6,000 into a bank that pays 16% APR on deposits with the interest compounded monthly How much money will you have in the bank after 7 months? Round all your calculations to at least 4 decimal places. Round your answer to 2 decimal places, for example 100.12. Question 9 1 pts 3 months ago (1 quarter of a year), you purchased a share of XYZ Corp for $36.04. Today you sold the share for $35.89. What is the APR for this investment? Enter your answer in decimals (not percent) and round to 4 decimal places, for example 0.1234. Question 10 1 pts 6 months ago (one-half of a year) you purchased a share of GDL for $104.81. Today, you sold the share for $116.32. What is the EAR for this investment? Enter your answer in decimals (not percent) and round to 4 decimal places, for example 0.1234
