Suppose you borrowed $25,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe in the first year? O a. $5,804.89 O b.$5,920.99 O c. $5,572.70 O d. $4,469.77 O e. $5,108.30 e Moving to the next question prevents changes to this answer. Sam was injured in an accident, and the insurance company has offered him the choice of $24,000 per year for 15 years, with the first payment being made today, or a lump sum. If a fair return is 7.5%, how large must the lump sum be to leave him as well off financially as with the annuity? O a.$189,023.94 O b.$202,688.32 O c. $227.71 9.69 d. $248,236.26 O e. $234,571.88 question 59 of 63