What is the present value of a(n) 6-year annuity that pays $3,000 annually, given a discount rate of 9 percent? Question content area bottom Part 1 The present value of the annuity is $enter your response here. (Round to the nearest cent.)

You've been offered a loan of $20,000, which you will have to repay in 11 equal annual payments of $4,000, with the first payment due one year from now. What interest rate would you pay on that loan? Question content area bottom Part 1 The interest rate you would pay on the loan is enter your response here%. (Round to two decimal places.)

A firm borrows $40,000 from the bank at 15 percent compounded annually to purchase some new machinery. This loan is to be repaid in equal annual installments at the end of each year over the next 9 years. How much will each annual payment be? Question content area bottom Part 1