You are leasing a new car from Ralley Automotive. The car costs $69,950, and you will lease it for 3 years at 11.9%. The lease is structured as an annuity due. What will your monthly payment be? $2,185 $2,297 $2,227 $2,320 $2,436 You have decided to purchase a new car. The car costs $27,500. The dealer is offering to finance the car for 6 years at a rate 8.75%. How much would your monthly payment be? $492 $511 $518 $504 $495 G What is the present value of $2,000 per year, at a discount rate of 6.5 percent, if the first payment is received 3 years from now and the last payment is received 12 years from now? $12,169 $13,690 $12,676 $11,409 $11,409 Acme Insurance is offering you a perpetuity that will pay you and your heirs $150,000 per year. If you have a required return of 7.5%, what is the most you would pay for this perpetuity? $1,000,000 $2,000,000 $750,000 $1,500,000 $1,750,000 You plan to invest $12,000 per year into a retirement account. If you earn a compound annual rate of return of 11%, how many years will it take you to reach a balance of $1,500,000? 24.24 21.09 25.79 22.83 26.76