You need a 30-year, fixed-rate mortgage to buy a new home for $180,000. Your mortgage bank will lend you the money at a 71 percent APR for this 360-month loan. However, you can afford monthly payments of only $950, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. How large will this balloon payment have to be for you to keep your monthly payments at $950? Multiple Choice $38,63768 $336,020,46 $313.403.7 $11,269.42 $323,096.6 If you put up $31,000 today in exchange for a 8.50 percent, 15-year annuity, what will the annual cash flow be? Multiple Choice $3,511.90 $3.960.05 $6.689.08 $3,733.03 $2,066.67 An investment will pay you $18,000 in 6 years. The appropriate discount rate is 6 percent compounded daily. What is the present value? Multiple Choice $12.935.30 $11.930.62 $12.689.29 $13,186.47 $12,558.55