1. What is the value today of receiving $5,500 at the end of four years, assuming an interest rate of 10% compounded semiannually? Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1, and PVA of $1). Multiple Choice $3,823 $3,723 $3,757 $4,400

2. You borrow $40,000 to buy a boat. The loan is to be paid off in monthly installments over one year at 18% interest annually. The first payment is due one month from today. What is the amount of each monthly payment? Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1,PVA of $1, FVAD of $1 and PVAD of $1) Multiple Choice $3,333 $3,217 $3,667 None of the other answer choices are correct.

3. Under the NBA deferred compensation plan, payments made at the end of each year accumulate up to retirement and then retirees are given two options. Option 1 allows the retiree to select the amount of the annual payment to be received, and option 2 allows the retiree to specify over how many years payments are to be received. Assume Hardaway has had $7,700 deposited at the end of each year for 30 years, and that the long-term interest rate has been 7%.

Required: How much has accumulated in Hardaways deferred compensation account?

How much will Hardaway be able to withdraw at the beginning of each year if he elects to receive payments for 16 years?

How many years will Hardaway be able to receive payments if he chooses to receive $82,000 per year at the beginning of each year? Note: For all requirements, round your final answers to the nearest whole number. Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)