Question 1: Future Value of an Annuity What is the future value of a $1,900 annuity payment over 6 years if the interest rates are 7 percent? $13,591.25 $2,851.39 $12,198.00 $15,948.29 Question 2: A deposit of $350 earns the following interest rates: a. 8 percent in the first year. b. 6 percent in the second year. c. 5.5 percent in the third year. What would be the third year future value? (Round your answer to 2 decimal places.) Future value $

Question 3: You wish to buy a $10,000 dining room set. The furniture store offers you a 3-year loan with an 11 percent APR. What are the monthly payments? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Payment $ per month How would the payment differ if you paid interest only? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Payment $ per month What would the consequences of such a decision be? You would have repaid the loan completely. You would have paid $11786.04 at the end of the 36 months. You would owe $3300.12 at the end of the 36 months. You would owe $10,000 at the end of the 36 months

Question 4: What annual rate of return is implied on a $2,500 loan taken next year when $3,500 must be repaid in year 4? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Annual rate of return ______%

Question 5: What is the present value of a $1,500 payment made in nine years when the discount rate is 8 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Present value $

Question 6: A loan is offered with monthly payments and a 10 percent APR. Whats the loans effective annual rate (EAR)? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Effective annual rate %

Question 7: If the present value of an ordinary, 6-year annuity is $8,500 and interest rates are 9.5 percent, whats the present value of the same annuity due? (Round your answer to 2 decimal places.) Present value $

Question 8: Whats the present value of a $900 annuity payment over five years if interest rates are 8 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Present value $

Question 9: What is the future value of $500 deposited for one year earning an 8 percent interest rate annually? Future value $