Question: help me to make sure mine is correct for question 8,9,10 QUESTIONS If the current rate of interest is 5%, then the present value (PV)
QUESTIONS "If the current rate of interest is 5%, then the present value (PV) of an investment that pays $1000 per year and lasts 5 years is closest to Note: Express your answers in strictly numerical terms. For example, if the answer is 5%, enter 0.05 as an answer." QUESTION 9 "A rich donor gives a hospital $25000 one year from today. Each year after that, the hospital will receive a payment 3% larger than the previous payment with the last payment occurring in 5 years time. What is the present value (PV) of this donation, given that the interest rate is ? Note: Express your answers in strictly numerical terms. For example, if the answer is 5%, enter 0.05 as an answer." QUESTION 10 "Assume that you are 41 years old today, and that you are planning on retirement at age 65. Your current salary is $140000 and you expect your salary to increase at a rate of 2% per year as long as you work. To save for your retirement, you plan on making annual contributions to a retirement account. Your first contribution will be made on your 42st birthday and will be 15% of this year's salary. You expect to deposit 15% of your salary each year until you reach age 65. Assume that the rate of interest is 4%. The present value (PV) (at age 41) of your retirement savings is Note: Express your answers in strictly numerical terms. For example, if the answer is $500, write enter 500 as an
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