You are considering an annuity which costs $108,647 today. Annuity pays $7,800 a year at an annual interest rate of 6%. What is the length of annuity time period?

Your cart dealer is willing to lease you a new car for $289 a month for 60 months. Payments are due on the first day of each month starting with the day you sign the contract. If your cost of money is 4.9%, what is the current value of the lease?