Question 20 (4 points) Suppose that you borrowed $7000 for 4 years at 6 percent per year, compounded monthly. Your monthly loan payment is: Your Answer: Answer units Question 21 (4 points) Your significant other just won the Power Ball lottery. S/he has the choice of $10 million today or a 20-year annuity of $700000, with the first payment coming today. What rate of return would make you indifferent between the two alternatives? Your Answer: Answer units Question 22 (4 points) By law, credit card issuers must publish both the nominal (Annual Percentage Rate or APR) and the effective (EAR) rates on their statements. If the nominal rate on a card is 15 percent per year, with interest paid monthly, the corresponding effective rate is: Your Answer: Answer units