Question 3 (Time Value of Money) 25 Marks a) How much must be invested today in order to generate a five-year annuity of $1,000 per year, with the first payment one year from today, at an interest rate of 12%? b) A car dealer offers payments of $522.59 per month for 48 moths on an $25,000 car after making a $4,000 down payment. What is the loan's APR? c) What is the present value of a four-period annuity of $100 per year that begins tow years from today, if the discount rate is 9%