1) Jill borrows $14,000 and will repay it in 2 equal year-end repayments over 2 years. If the interest rate is 13.7% per annum compounded monthly, Jills annual will be (rounded to nearest dollar; dont include the $ sign or commas):

5)Jack needs $4600 in 6 years from today to buy a holiday. He invests $2300 today. Find the effective annual rate of interest that Jack needs to earn on this amount (as a %, 2 decimal places) in order to reach his goal. (Solve using excel =RATE function; Answer in percentage to two decimals without the % sign e.g. 1.888 is 1.89)

11)Jill borrows $27,000 from you today. She agrees to repay you in two equal amounts, the first to occur in 2 years from today and the other in 7 years from today. If the interest rate is 12.8% per annum compounding monthly, what will be the amount of each repayment?

13)A real estate developer offers to sell you some prime real estate for $587,000 today. You agree to pay $214,000 in exactly 7 months but the balance in exactly 22 months from today when you expect to receive some cash from an investment. How much will you need to pay the developer in 22 months if the interest rate is 12.8% per annum compounding monthly (rounded to the nearest dollar; dont show $ sign or commas)?

14)Your business will pay you distributions of $17,000 in 11 months and another $12,000 in 22 months. If the discount rate is 7% per annum (compounding monthly) for the first 14 months, and 10% per annum (compounding monthly) for the next 8 months, what single amount received today would be equal to the two proposed payments? (answer to nearest whole dollar; do not use $ sign or commas)