How long will it take to pay off a loan of $50000 at an annual rate of 12 percent compounded monthly if you make monthly payments of $650? Use five decimal places for the monthly percentage rate in your calculations. The number of years it takes to pay off the loan is nothing years.(Round to one decimal place.) Your folks just called and would like some advice from you. An insurance agent just called them and offered them the opportunity to purchase an annuity for $19909.14 that will pay them $3000 per year for 15 years. They don't have the slightest idea what return they would be making on their investment of $19909.14. What rate of return would they be earning? The annual rate of return your folks would be earning on their investment is nothing%. (Round to two decimal places.) (Loan amortization)On December 31, Beth Klemkosky bought a yacht for $70 comma 000. She paid $16000 down and agreed to pay the balance in 9 equal annual installments that include both the principal and 11 percent interest on the declining balance. How big will the annual payments be? a.On December 31, Beth Klemkosky bought a yacht for $70000 and paid $16000 down, how much does she need to borrow to purchase the yacht? $ nothing(Round to the nearest dollar.) (Present value of annuity payments)The state lottery's million-dollar payout provides for $1.3 million to be paid in 25 installments of $5 000 per payment. The first $52000 payment is made immediately, and the 24 remaining $52000 payments occur at the end of each of the next 24 years. If 11 percent is the discount rate, what is the present value of this stream of cash flows? If 22 percent is the discount rate, what is the present value of the cash flows? a.If 11 percent is the discount rate, the present value of the annuity due is $ nothing. (Round to the nearest cent.)