11. If a 5 -year ordinary annuity has a present value of $1,200, and if the interest rate is 8 percent compounded on a quarterly basis, what is the amount of each annuity payment? a. $254.59 b. $122,22 n=20 c. $300.20 r=81 d. 535.38 (c.) 573.39 12. If $100 is phiced in an account that eams a simple 4 percent, compounded semiannually, what will it be worth in 5 years? a. $122,02 N=10PJ=100 b. $105.10 I=4+Rm+=0 c. $135.41 P/Y=2=1218994 (d.) 5121.90 e. $117.48 13. In 1993 the average tuition for one year at a certain state school was $1,800. Thirty years later, in 2023 , the average cost was $23,700. What was the growth rate in tuition over the 30 year period? a. 12% Ri=1800 N=30 (b) 9% c. 6% FV=23700P/Y=1 d. 7% 14. PVA Store is financing a new truck with a loan of $10,000 to be repaid in 5 annual end-of-year installments of $2,504.56. What anual interest rate is the company paying? a. 7% b. 8% c. 9% d. 10% c. 11% 15. Your credit card carries an 11% annual percentage rate, compounded on a daily basis. What is the effective annual rate, or annual percentage yield? Use 365 days per year. a. 0.03% b. 11.0% c. 10.41% (d) 11.63% c. 9.90% (1+36511)365