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8. What lump sum deposited today is equivalent to 48 monthly deposits of $2,500 with the first deposit today if the APR is 7.9% with monthly compounding?
$104,964.59 $102,601.95 $105,330.60 $103,277.41 None of the above.

9. If you earn 3.5% annually, for how long can you withdraw $8,000 per year from $100,000 saved today?
14.96 years 15.48 years 16.73 years 18.08 years None of the above.

10. Acme borrowed $80,000 for four years at an interest rate of 9 percent, compounded annually. The loan requires the payment of the annual accrued interest plus $20,000 of principal each year. What is the amount of the total loan payment in Year 2?
$26,300 $27,200 $25,400 $28,800 None of the above.

11.

Which is true?

The interest rate expressed as if it were compounded once per year is called the periodic interest rate.The interest rate expressed as if it were compounded once per year is called the compound interest rate.The interest rate expressed as if it were compounded once per year is called the stated annual rate.The interest rate expressed as if it were compounded once per year is called the daily interest rate.None of the above.

13. What is the value today of an annual cash flow of $36,900 next year is expected to increase by 2 percent per year indefinitely if the discount rate is 17 percent?
$246,000.00 $424,350.00 $194,210.53 $212,802.77 None of the above.

14. Which is true?
the effective annual rate of 16.5 percent, compounded continuously is 16.96%  the effective annual rate of 16.5 percent, compounded continuously is 17.43%  the effective annual rate of 16.5 percent, compounded continuously is 17.94%  the effective annual rate of 16.5 percent, compounded continuously is 18.21% None of the above.
15. How long will it take Acme to save $142 million if it saves $12,000 a month, with the first payment today, if the the firm already has $19.6 million saved?
178.03 months 178.07 months 191.23 months 191.27 months None of the above.

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