You are considering either leasing or purchasing a car. You notice an ad that says you can lease the car you want for $286.00 per month. The lease term is 60 months with the first payment due at inception of the lease. You must also make an additional down payment of $470. The ad also says that the residual value of the vehicle is $17,123. The list price of the vehicle is $25,397, but after much research, you have concluded that you could buy the car for a total "drive-out" price of $23,300. What is the quoted annual interest rate you are actually paying with the lease?

	11.45%
	11.29%
	8.87%
	8.75%
	10.85%

You are valuing an investment that will pay you $21,000 per year for the first 9 years, $29,000 per year for the next 12 years, and $68,000 per year the following 16 years (all payments are at the end of each year). Another similar risk investment alternative is an account with a quoted annual interest rate of 13.00% with monthly compounding of interest. What is the value in today's dollars of the set of cash flows you have been offered?

	$1,625,000.00
	$199,379.11
	$184,821.12
	$235,865.49
	$168,392.37