QUESTION 17 What is the effective annual rate of a loan that charges interest at a rate of 6%, compounded monthly? C 6.1678% C 6.5% C 6.345% C 6.951% QUESTION 19 Amounts reflected in a company's balance sheet represent Cfair market values C estimated replacement costs Cgoing concern costs C historical costs C none of the others QUESTION 20 You inherited $10,000 and put it in an account today that earns 9% interest compounded monthly. If you want to have $100,000 in 20 years, how much would you need to deposit in the account at the end of each month? C$68.80 C $59.31 C $166.67 C$59.75 C None of these answers is correct QUESTION 21 You are offered an investment which pays $8,500 in 7 years. You require a return of 11% on investments of similar risk. What is the most you should be willing to pay for this investment today? C$1214.29 C $4094.10 C$17,647.36 C$935.00 C none of the other answers are correct QUESTION 24 Which of the following is NOT a cash expense on the income statement? C Depreciation C Taxes Wages Interest