Your local travel agent is advertising an upscale winter vacation package for travel ten years from now to Antarctica. The package requires that you pay $20,000 today, $30,000 one year from today, and a final payment of $48,000 on the day you depart ten years from today. What is the cost of this vacation in today's dollars if the discount rate is 20 percent?

		52,752.27
		100,532.12
		80,812.98
		128,574.72
		79,005.20

WeMo announced today that it will begin paying annual dividends next year. The first dividend will be $0.20 a share. The following dividends will be $0.50, $0.20, $0.50, and $0.80 a share annually for the 4 years, respectively. After that, dividends are projected to increase by 3 percent per year. How much are you willing to pay to buy one share of this stock today if your desired rate of return is 10 percent?

		$8.89
		$9.62
		$8.23
		$8.68
		$8.03

You are paying an effective annual rate of 15 percent on your credit card. The interest is compounded monthly. What is the annual percentage rate on this account (calculate the APR using the effective quarterly rate)?

		18.65 percent
		14.06 percent
		1.17 percent
		15 percent
		14.25 percent

A zero coupon bond is trading at 50% of its par value. Assuming yield-to-maturity is 15% per year. What is the time to maturity?

		4.96 years
		6.56 years
		2.00 years
		5.79 years
		6.35 years

Astoria Diners common stock sells for $42 a share and pays an annual dividend that increases by 3.5 percent annually. The market rate of return on this stock is 8.20 percent. What is the amount of the last dividend paid?

		$1.91
		$1.97
		$3.44
		$1.47
		$1.59