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When inputting an answer, round your answer to the nearest 2 decimal places. If you need to use a calculated number for further calculations, DO
When inputting an answer, round your answer to the nearest 2 decimal places. If you need to use a calculated number for further calculations, DO NOT round until after all calculations have been completed. For the final answer, Round to 2 decimal places. 2 points Each (10 Points Total) Q1) Suppose you signed a contract for a special assignment over the next 3 years. You will be paid $10,496 at the end of each year. If your required rate of retum is 09.00%, what is this contract worth in today? Q2) You need a loan to purchase new equipment. The loan will be paid off over 3 years with payments made at the end of every quarter. If the stated annual rate is 04.00% and quarterly payments are $522, what is the loan amount? Q3) You would like to purchase a car for $16,617. If the car loan is 13.00% financed over 4 years, what will the monthly payments be for this car? Q4) What is the most that you would pay for an investment that promises to pay $9,621 a year forever with the first payment starting one year from now? Assume that your required rate of retum for this investment is 17.00%. Q5) A loan has a stated annual rate of 06.00%. If loan payments are made monthly and interest is compounded monthly, what is the effective annual rate of interest
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