UU U . JU9,US L. $172,049 D. $153,123 E. $144,456 13. Eric is considering an investment that will pay $5,000 a year for seven vears, starting one year from much should he pay for this investment today if he wishes to earn a 13 percent rate of return A. $22,113.05 B. $19,200.00C. $18,909.31 D. $17,787.36 14. You just turned 21 years old and want to retire when you turn 65. You expect to live for 25 years after retiremen and want to withdraw $8,000 per month in retirement, starting one month after your 65th birthday. You expect to earn a return of 0.7% on your investments every month. 1) How much retirement money do you need to have by 65th birthday to support the withdrawal? 2) How much should you save each month if you make the first deposit one month from now and the last one on 65th birthday? 14-1 A. need $709,583.12 B. need $889,523.69 C. need $1,001,879.33 D. need $1,016,140.24 14-2 A. $180.89 per month B. $237.27 per month C. $380.12 per month D. $400.00 per month 16. A new financial services company just opened in your town. To attract customers, it is offering a "9-11" loan special. The company will lend $9 today in exchange for a repayment of $11 three years from today. What is the loan rate on this deal? A. 22.2 percent B. 10.6 percent C. 6.9 percent D. 7.4 percent 17. Given an interest rate of 5.0 percent per year, what is the value today of a British Consol Bond that pays perpetual stream of 250 annual payments with the first payment beginning in 10 years? A. 238.10 B. 3,069.57 C. 3,223.04 D. 5,000 18. Webster Inc. is considering the purchase of a new machine. The quote consists of a quarterly payment of $29,600 for seven years at 8% interest. First payment occurs one quarter from now. What is the purchase price of the equipment? A. $621,380.92 B. $629,925.66 C. $687,418.22 D. $774,311.28 19. What is the effective annual rate of 14.9 percent compounded quarterly? How about compounded continuously? A. 15.75%; 16.12% B. 15.75%; 16.07% C. 15.23%; 16.02% D. 15.23%; 1.16 uant What is the APR