Answer all. Don't answer just one! If you can't answer all then don't answer just one....

Answer all. Don't answer just one! If you can't answer all then don't answer just one.

14. You have accumulated $1,269.28 in credit card debt. Your interest rate is 14.75% per year and you will pay it off in 55 months. what will be your monthly payment?
15. You won the lottery. The money is paid in equal annual installments of $68,375 over 13 years beginning today. If the appropriate discount rate is 4.31%, how much is the sweepstakes actually worth today?
16. You won the lottery. The money is paid in equal annual installments of $58,666 over 21 years. If the appropriate discount rate is 4.45%, how much is the sweepstakes actually worth today?
17. Your grandfather has some extra money lying around and he is considering investing in something that will pay $12,929 per year in perpetuity. If the required return is 6.55%, how much should he be willing to pay for it today?
18. State Streeet has preferred shares that pay $1.95 per year. If the required return is 2.34%, what is the fair price of the stock?

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jeff jeffy answered 1 year ago

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