A defined-benefit retirement plan once you retire - will pay $30,000 per year for 40 years and increase the annual payment by three-percent each year. What is the present value at retirement if the discount rate is 7 percent?

Group of answer choices

$265,311

$381,212

$456,713

$586,620

$642,311

You have just purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage loan for 80 percent of the $2,600,000 purchase price. The monthly payment on this loan will be $14,100. What is the effective annual rate on this loan?

Group of answer choices

5.80%

5.95%

6.41%

7.19%

7.43%

The present value of the following cash flow stream is $7,200 when discounted at 10 percent annually. What is the value of the missing cash flow at year 2?

Year Cash Flow 1 3,100 2 3 2,200 4 1,500

Group of answer choices

$2,500

$2,250

$2,062

$1,952

$1,842

Work does not need to be shown.