What is the price Mike should pay for a security which can generate generate cash flows of $4,700, $9,700, and $15,900 if Brady's discount rate is 12 percent.

Multiple Choice

• $24,632.59

• $30,300.00

• $32,875.50

• $21,686.52

• $23,246.52

What is the monthly salary of Sarah if she agrees to a 30 year contract whose value today is $225,000. She gets a signing bonus equal to 20 percent of the contract value and agrees to an APR of 5.25 percent compounded monthly?

Multiple Choice

• $989.64

• $960.83

• $1,043.66

• $1,003.75

• $993.97

How many months faster will Josh be able to pay off what he owes if he can now make monthly payments of $335, an increase from his earlier monthly payment of $260 on a loan with a balance of $13,600 and an APR of 18 percent compounded monthly.

Multiple Choice

• 40.06 months

• 11.71 months

• 37.39 months

• 36.05 months

• 34.33 months