Tips: evaluate your result from a common sense perspective Remember to check BGN v. END (annuities) Order in which you enter variables doesn't matter Must enter 4 variables to solve for 5th (even if it means a certain variable is entered as 0) 1.) If you are a mortgage lender, what is the most you are willing to lend a borrower TODAY in the following situation? The borrower has promised to pay you $13,000 at the end of each year for 20 years, and you want to earn a 12% annual rate of return. 2.) How much will a $50 deposit made TODAY be worth in 20 years if interest is compounded annually at a rate of 10%? 3.) If your house is worth $350,000 TODAY and it appreciates 4% annually, how much is your house worth in 30 years? 4.) You are about to sign a five-year lease for $24,000 per year for a commercial space. What is the present value of your payments given you have a discount rate of 5% and your payments are due at the beginning of each year