Use the information below to answer the following questions. Present and future value tables of $1 at 3% are presented below: | N 8 FVS1 PVS1 1.03000 0.97087 1.06090 0.94260 1.092731 0.915141 1.125511 0.888491 1.159271 0.86261 1.194051 0.83748 1.229871 0.813091 1.266771 0.78941 1.304771 0.76642 1.343921 0.74409 1.38423 0.72242 1.42576 0.70138 1.46853 0.68095 1.51259 0.66112 1.557971 0.64186 1.60471 0.62317 FVASI 1.0000 2.0300 3.0909 4.1836 5.3091 6.4684 7.66251 8.8923 10.1591 11.4639 12.8078 14.1920 15.61781 17.0863 18.59891 20.1569 PVA SI FVAD S1 PVAD S1 0.97087 1.0300 1.00000 1.91347 2.0909 1.97087 2.82861 3.1836 2.91347 3.71710 4.3091 3.82861 4.57971 5.4684 4.71710 5.41719 6.6625 5.57971 6.23028 7.8923 6.41719 7.01969 9.15911 7.23028 7.78611 10.46391 8.01969 8.53020 11.8078 8.78611 9.252621 13.1920 9.53020 9.95400 14.6178] 10.25262 10.63496 16.0863 10.95400 11.29607| 17.59891 11.63496 11.93794 19.1569| 12.29607 12.56110 20.7616 12.93794 10 11 12 13 15 161 5) Shelley wants to cash in her winning lottery ticket. She can either receive eight S100,000 semiannual payments starting today, or she can receive a single-amount payment today based on a 6% annual interest rate. What is the single-amount payment she can receive today? A) $723,028. B) $744,090. C) $853,020. D) $801,969. 6) On January 1, 2018, you are considering making an investment that will pay three annual payments of $10,000. The first payment is not expected until December 31, 2020. You are eager to earn 3%. What is the present value of the investment on January 1, 2018? A) $27,462. B) $26,662 C) $28,286. D) $29,135. 7) 7) Rosie's Florist borrows $300,000 to be paid off in six years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment? A) $29,761. B) $25,750. C) $30,139. D) $25,500. 8) 8) Jimmy has $255,906 accumulated in a 401k plan. The fund is earning a low, but safe, 3% per year. The withdrawals will take place at the end of each year starting a year from now. How soon will the fund be exhausted if Jimmy withdraws $30,000 each year? A) 10 years. B) 11 years. C) 8.5 years. D) 8.8 years. 9) 9) Jose wants to cash in his winning lottery ticket. He can either receive five $5,000 annual payments starting today, or he can receive one lump-sum payment today based on a 3% annual interest rate. What would be the lump-sum payment? A) $23,000. B) $23,586. C) $22,899. D) $21,565