What is the present value of $1,500 per year, at a discount rate of 6 percent, if the first payment is received 5 years from now and the last payment is received 18 years from now?

Question 1 options:

	$10,399
	$9,939
	$9,608
	$11,044
	$10,602

You want to buy a new sports car from Thompson Automotive for $50,000. The contract is in the form of a 60-month annuity due at a 8.0 percent APR. What will your monthly payment be?

Question 2 options:

	$955
	$973
	$1,007
	$1,014
	$1,065