What is the effective annual rate if the annual percentage rate is 6% compounded monthly? Enter your answer as a percentage rounded to two decimal places. Do not include the percentage sign in your answer. Enter your answer below. Correct response: 6.170.01% Click "Verify" to proceed to the next part of the question. Given the EAR of 6.17%, what is the future value of $1,000 invested at an annual percentage rate of 6% compounded monthly for 6 years? Enter your response below. Click "Verify" to proceed. Section Attempt 1 of 1 Suppose a condo generates $15,000 in cash flows in the first year. If the cash flows grow at 4% per year, the interest rate is 7%, and the building will be sold at the end of 16 years with a value of $80,000, what is the present value of the condo's cash flow? Enter your response below (rounded to 2 decimal places). Suppose you take a 8 year loan of $15,000 with an annual interest rate of 8% and semi-annual payments starting at the end of year 1 . What are the semiannual loan payments? Enter your response below. Correct response: 1,287.31 Click "Verify" to proceed to the next part of the question. The semi-annual loan payments are $1,287.3. Suppose you decide to pay off the loan at the end of year 4 . How much would you have to pay (including the time 4 payment), assuming there are no penalties for early repayment? Enter your response below. Click "Verify" to proceed. You are planning to buy a house in 7 years. You would like to be able to make a down payment of $55,000. The stated interest rate is 6% (APR). If interest is compounded monthly, how much will you need to invest today to be able to make your down payment? Enter your response below rounded to two decimal places