You expect to receive $5,000 in 6 years from a lawsuit settlement. What is the present value of the settlement? Use an annual interest rate of 9.50%. $2, 930 $2, 949 $2, 958 $3, 057 $2, 900 What is the monthly payment on a $460,000 mortgage? Assume a standard 30-year, 6.8% mortgage with monthly payments. $2, 955 $2, 822 $3, 068 $2, 998 $3, 190 You just won the lottery, which promises you $990,000 per year for the next 20 years. You receive the first payment today. If your discount rate is 9.75%, what is the present value of your winnings? $9, 410, 263 $9, 706, 887 $9, 897, 833 $8, 574, 272 $9, 654, 166