University of North Georgia, Dahlonega FINC 3440 Exam 12 1)How much will you have after five years, if you invest $1,300 today and you earn a return of 12

4. If the future value of an ordinary annuity that pays $175.00 each month for five years is

$11,750.47, what is the annual interest rate?

5. If you borrow $1,800 for three years at an interest rate of 3.7% per year, what is the annual loan payment?
6. Assume that you borrow $150,000 for seven years at an interest rate of 5.5% per year. If the loan

has semiannual payments, what is the amount of interest in the first payment?

7. Assume that you borrow $18,000 for five years at an interest rate of 4.8% per year. If the loan has annual payments, what is the amount of principal in the first payment?
8. If the present value of a perpetuity is $122,1390 when the discount rate is 7.3% per year, what

is the amount of the annual payment?

9. You currently have $600 in a bank account. Assume that you will deposit $100 in one year, $200 in two years, and $300 in three years. If you earn an interest rate of 5.1% per year, how much will you have in three years?
10. You intend to lease a $55,000 car. The lease term is six years and the financing rate is 6.3% per

year. If the value of the car at the end of the lease is expected to be $40,500, what is the monthly lease payment?