You will receive annual payments of $800 at the end of each year for 12 years. The first payment will be received in Year 3. What is the present value of these payments if the discount rate is 7 percent?

$5,465.20

$6,018.52

$6,299.80

$5,549.96

$6,856.60

What is the effective annual rate of 9.6 percent compounded semiannually?

9.71 percent

9.83 percent

9.79 percent

9.68 percent

9.92 percent

Today, you are borrowing $7,800 to purchase a car. What will be your monthly payment if the loan is for four years at 6.45 percent interest?

$208.40

$221.50

$184.80

$180.24

$200.10

Given an interest rate of 14.6 percent per year, what is the value at t = 8 of a perpetual stream of $1,250 annual payments that begin t =25?

$2,412.02

$967.39

$3,335.96

$2,235.06

$1,711.41