QUESTION 16 What's the present value of a perpetuity that pays $500 per year, starting one year from today, if the appropriate interest rate is 5.8%? $7,750.16 $7,800.85 $8,251.63 $8,620.69 $8,928.57 1 points Save Answer QUESTION 18 Suppose you are buying your first condo for $145,000, and you will make a $20,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6% nominal interest rate, with the first payment due in one month. What will your monthly payments be? $749.44 $770.60 $812.69 $843.77 $885.91 1 points Save