Suppose that S10,000 is borrowed now at 15% interest per year. A partial repayment of $3,000 is made four years from now. The amount that will remain to be paid then is most nearly: A. $7,000 B. $8, 050 C. $8, 500 D. $13,000 E. $14, 490 What is monthly payment on a loan of s15,000 for five years at a nominal annual rate of interest of the 9% compounded monthly? A. $214 B. $250 C. $312 D. $324 $381 If a sum ofs5000 is deposited now, $7000 two years from now, and S2000 per year in years 6 through 10, the amount in year 10 at an interest rate of 10% per year will be closest to: The multistate Powerball Lottery, worth $182 million, was won by a single individual who had five tickets at $1 each. The individual was given two choices: Receive 26 payments of$7 million each, with the first payment to be made now and the rest to be made at the end of the next 25 years or receive a single lump-sum payment now of each state uses that would be equivalent to the 26 payments of$7 million each. If the A. Less than interest rate of 4% per year, the amount of the lump-sum payment is closest to: $109 million B. S109, 355,000 C. $116, 355,000 D. Over $117 million 19. The maintenance cost for a certain machine is $1000 per year for the first 5 years, and S2000 per year for the next 5 At an interest rate of 10% per year, the equivalent annual cost of maintenance in 1 through 10 is closest to: years A. S1255 B. $1302 C. $1383 D. $1426 20. If $10,000 is borrowed now at 10% per year interest, the balance at the end of year 2 after payments of $3000 in year 1 and $3000 in year 2 will be closest to: A. Less than $5000 B. $5800 C. $6100 D. Morethan$7000