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Question 21 8 pts In 5 years, you want to buy a truck that will cost $61,000. Today, you have $34,000 in the bank. What
Question 21 8 pts In 5 years, you want to buy a truck that will cost $61,000. Today, you have $34,000 in the bank. What interest rate must you earn in order to buy the truck? Enter your percentage answer as a whole number rounded to 2 decimal places. 3 Question 17 8 pts You have a payment of $230,000 due to be paid to you in 12.9 years. If the discount rate is 7.3%, what is the value of that payment today? Round your dollar answer to 2 decimal places. Question 20 8 pts After reading the fine print in your credit card agreement, you find that the nominal monthly interest rate is 1.458%. What is the effective annual rate? Enter your percentage answer as a whole number with 2 decimal places. Question 18 8 pts If you can earn 6.5% per year in an investment account, how many years will it take for an investment to quadruple in value? Round your answer to 2 decimal places. Question 19 8 pts Grant will receive a lottery payment of $2 million in 10 years. If the cost of capital is 10%, what is the present value of the payment? Round your dollar answer to 2 decimal places
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