The Pacific Computer Co. is considering the purchase of some new equipment. The quote consists of a quarterly payment of $4,740 for 10 years at 6.5 percent interest. What is the purchase price of the equipment? $34,075.06 $67,049.80 $43,425.08 $105,129.30 $138,617.88 Big O's Tires is offering a set of 4 premium tires on sale for $550. The credit terms are 24 months at $25 per month. What is the interest rate on this offer? 11.59 percent 8.5 percent 12.74 percent 10.62 percent 9.48 percent Jordan is considering an annuity that will pay $3,000 $21,213.24. You selected this answer. a year Tor 10 years, starting 1 year from today. How much should Jordan pay for this annuity if the discount rate is 9%? $17,985.74 $19,252.97 $21,213.24 $18,349.81 $20,415.57 You just got a full time job with 401-K and you decided to put all your contribution each year and your matching contribution into a mid cap mutual fund that earns about 13% return a year. The combined contributions is about $5,600 a year. By the time you retire in 40 years, how much money will you have in your retirement account? $76,370.51 $224,000 $5,676,743.76 $2,24,000 $718,824.90 Which one of the following has the highest effective annual rate? 7 percent compounded annually 7 percent compounded daily 7 percent compounded monthly 7 percent compounded semi-annually 7 percent compounded quarterly Which one of the following statements concerning present/future value of annuity is correct? The present value of an annuity decreases when the interest rate increases. The present value of an annuity increases when the interest rate increases. The present value of an annuity is unaffected by the number of the annuity payments. The future value of an annuity is unaffected by the amount of each annuity payment. The future value of an annuity increases when the interest rate decreases