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You are expecting to receive a series of payments over the next 4 years, $3,000 in year 1, $2,000 in year 2, $5,000 in year

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You are expecting to receive a series of payments over the next 4 years, $3,000 in year 1, $2,000 in year 2, $5,000 in year 3, and $4,000 in year 4. What is the present value of this payment stream, assuming an interest rate of 5%?! Select one: a. $12,895.26 b. $11,517.83 o c. $12,281.20 d. $11,696.38 O e. $13,333.33 Your credit card balance has grown to $25,000. You decide to stop using the card, and to bring the balance down to $10,000 in one year. Assuming a 17% interest rate, what would be the monthly payment necessary to bring the balance down to $10,000 in 1 year? (Hint: one way to think about this scenario would be that you will still need to pay $10,000 in 1 year to pay the balance off) Select one: O a. $1,068.38 b. $1,250.00 c. $2,280.12 O d. $3,050.50 e. $4,706.98 f. $15,354.17 g. $19,250 h. $1,509.74

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