1. Shannon finances the purchase of a house with a $240,000 mortgage loan from her bank. She wonders how much her monthly payment will be. Which type of annuity is this? a. FV given, compute R b. R given, compute PV c. PV given, compute R d. R given, compute FV 2. Johnnie wants to accumulate $650,000 for retirement in 25 years. He wonders how much money he needs to save each month to reach his goal. Which type of annuity is this? a. FV given, compute R b. R given, compute PV c. PV given, compute R d. R given, compute FV 3. Stacy calculates that she can save $3,000 a year for retirement. She wonders how much money she will accumulate in 30 years. Which type of annuity is this? a. FV given, compute R b. R given, compute PV c. PV given, compute R d. R given, compute FV 4. Eddie retired this afternoon from his 30-year career as a fire fighter. A financial advisor told him that he will need $4,500 a month for living expenses in retirement. He wonders how much money such an annuity will cost him today. Which type of annuity is this? a. FV given, compute R b. R given, compute PV c. PV given, compute R d. R given, compute FV 5. Suppose the equal payment/receipt (R) occurs at the beginning of the period rather than at the end. What is this type of annuity called? a. annuity due b. contingent annuity c. future value d. ordinary annuity