Stanley Enterprises is acquiring Berkley, Inc. for $899,000. Berkley has agreed to accept annual payments $210,000 at an interest rate of 7.0 percent. How many years will it take Stanley Enterprises to pay for this purchase? What would the future value of $100 be after 5 years if the annual interest rate is 6% compounded semiannually? Suppose you borrowed $30,000 at an annual rate of 8% and must repay it in 5 equal installments at the end of the next five years. By how much would you reduce the amount you owe in the first year? You want to buy a condo 5 years from now, and you plan to save $3,000 per year, beginning one year from today. You will deposit the money in an account that pays 6% interest. How much will you have just after you make the 5 deposit. 5 Years from now? At a rate of 8%, what is the present value of the following cash flow stream? $0 at Time 0; $100 at the end of Year 1; $300 at the end of Year 2; $0 at the end of Year 3: and $500; at the end of Year 4