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1. What’s the interest rate of a 8-year, annual $3,700 annuity with present value of $20,000? (Round your answer to 2 decimal places.)

2. What annual interest rate would you need to earn if you wanted a $1,000 per month contribution to grow to $77,000 in six years? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

3. If the future value of an ordinary, 6-year annuity is $5,900 and interest rates are 7.5 percent, what is the future value of the same annuity due? (Round your answer to 2 decimal places.)

4. A perpetuity pays $160 per year and interest rates are 8.1 percent. How much would its value change if interest rates increased to 9.6 percent? (Round your answer to 2 decimal places.)

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Financial Management, Finance

Category:- Financial Management
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