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Question 3 (1 point)

You have been offered the opportunity to invest in a project that will pay $5,208 per year at the end of years one through three and $8,176 per year at the end of years four and five. These cash flows will be placed in a saving account that pays 13.54 percent per year. What is the future value of this cash flow pattern at the end of year five?

Round the answer to two decimal places.

Your Answer:

Question 4 (10 points) Big Brothers, Inc. borrows $66,737 from the bank at 18.15 percent per year, compounded annually, to purchase new machinery. This loan is to be repaid in equal annual installments at the end of each year over the next 8 years. How much will each annual payment be? Round the answer to two decimal places. All the work has to be shown