Question: 1 3 ) _ _ _ _ _ At 8 percent compounded annually, how long will it take $ 5 7 , 9 0 0

13)_____At 8 percent compounded annually, how long will it take $57,900 to double?a.3 yearsb. 11 yearsc. 8 yearsd 9 years
14)______How much must be invested today in order to generate a ten-year annual annuity of $9,300 per year, with the first payment one year from today, at an interest rate of 6%?a. $74,876b. $68,449c. $7,863.21d. $32,498
15)_______A bank offers to loan you $31,550 for six years to buy a car. The loan shall be paid back in 72 monthly payments. The interest rate offered on the loan is 4.70% compounded monthly. What monthly payment should you expect on the loan?a. $551.28b. $587.43c. $503.73d. $559.32

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