UE OF MONEY HOMEWORK WORKSHEET eferences Mailings Review View Help Tell me wihat you want to do "?.lan..: . |__, A .AE | AaBbCcDi AaBbC AaBbCcl|AaBbCcD(1 AaBbc a-? Heading 1. Heading 2 1 Normal Strong Paragraph Styles 12. You borrow $50,000 an d will make monthly payments for 2 years at 12% interest. How much will those payments be 13. You just won a contest that will pay you $15,000 each year, for five years. Assuming a 12% discount rate, what is the present value of your contest winnings? 14. John plans to retire in 12 years. When he retires, he would like to take an extended vacation, which he expects will cost at least $40,000. What lump-sum amount must he invest now to have the needed $40,000 at the end of 12 years if he invests at A) 8%? B) 12%? 15. If John chooses to invest money each year to fund his vacation in 12 years, how much money must he invest at the end of each year to have $40,000 to fund his vacation if he invests at A) 8%? B) 12%