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Question 8 1 pts N You have an annuity that pays $400 per month for the next 10 years. If your best annual interest rate
Question 8 1 pts N You have an annuity that pays $400 per month for the next 10 years. If your best annual interest rate was 3.3% and it increases to 6.7%, what is the change in value for your annuity. Answer in dollars and cents with negative indicating a drop in value and positive indicating an increase in value. Question 11 1 pts Kaladin bought a house using a 30-year mortgage 25 years ago when interest rates were 6.8%. He borrowed $290,000 to purchase the home. He has made all of his monthly payments on time. How much does he still owe? Just answer in dollars, Question 13 1 pts What is the present value of a stream of cash flows that pays $200 each year starting now until year 3. The next year it pays $290 per year until year 7. The year after that it pays $90 from then on forever if your interest rate is 13%? D Question 14 1 pts What is the value today of a stream of cash flows that starts 4 years from now and pays $700 each year indefinitely if your best interest rate is 7.9%? Question 15 1 pts You just graduated and you have a job. You want to save using a Roth IRA since any growth is tax exempt. You are concerned about inflation, which you estimate will be 1.6% per year. The contribution limit is $6000 per year in 2020, so you plan on depositing $500 per month starting in one month until you retire 43 years from now. You estimate your retirement account will grow at about 6% per year while you are saving, but once you retire you will invest in safer assets that will only yield 2.4% per year. Each of these compound monthly. You plan on withdrawing from your Roth IRA each month the same amount each month in retirement as $7000 is worth today (use inflation compounded yearly to figure out the withdrawal amount). How long (in months) will your retirement savings last
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