Sunland Inc. issues $1,900,000 of 7% bonds due in 11 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 9%. What amount will Sunland receive when it issues the bonds?

1. Amount received by Sunland when bonds were issued

Steve Taylor is settling a $21,750 loan due today by making 6 equal annual payments of $5,290.16. Determine the interest rate on this loan, if the payments begin one year after the loan is signed

2. Interest rate

John Taylor is settling a $19,570 loan due today by making 6 equal annual payments of $4,625.89. What payments must John Taylor make to settle the loan at an interest rate of 11%, but with the 6 payments beginning on the day the loan is signed?

3. Payments