Write the inputs for every problem. Answers do not need to be word-processed. 1. You invest $12,000 today at 9 percent per year. How much will you have after 15 years? 2. What is the current value of $100,000 to be received after 10 years if the discount rate is 12 percent? 3. You invest $2,000 every year for 20 years at 11 percent. How much will you have after 20 years? 4. How much should you set aside each year to accumulate $2 million after 40 years if the interest rate is 3 percent? Five percent? Ten percent? 5. You just took out a loan to buy a car for $35,000 at 6 percent interest for five years. What is your monthly payment? 6. You just won a lottery for $10 million. You can either take the winning as a lump sum today or as an annuity over 20 years. Calculate the lump sum and annual annuity amount assuming 3 percent interest rate. Ignore taxes. 7. You are interested in going on a vacation in the future and you want to save $2,714.44 annually and invest it at 5 percent. You estimate the total cost of this vacation to be $15,000. After how many years would you accumulate the desired amount of money? 8. You produced a piece of music and expect to receive $19,500 per year from a record company for the next 17 years. If the relevant interest rate is 10 percent, what is the minimum amount for which you should sell this annuity for today? 9. Your aunt offers you a choice of $20,100 at the end of 20 years or $870 today. If the discount rate is 17 percent, which option should you choose based on the time value of money principle? State and explain a non-TVM reason for accepting the lump sum option today rather than an amount at a future date? 10. What is the future value of $3,000 saved every six months and invested at 6 percent at the end of 20 years from today? 11. Completes amortization table for months 1, 2, 48, 240, and 241 for an amortizing mortgage for $50,000 at 4% interest rate for 20 years with monthly payments. You may earn a bonus of 10 points for completing this problem using only the Excel finance functions (we will discuss this part in class).