MULTIPLE CHOICE Choose the one alternative that best completes the statement or answers the qnestion. 1) The present value of $1,000 to be received in 5 years is the discount rate is 12.78%. A) 5548 ) $687 5 $494 D) $368 2) 2) At what rate must $287.50 be compounded annually for it to grow t 6 percent A) 8 percent 13) 7 percent D) 5 percent 3) Tiffin Auto Loans loans you $24,000 for four years to buy a car monthly payments. The annual interest rate on the loan is 9 per The loan must be repaid in 48 equal cent. What is the monthly payment? A) $543.79 B) $500.92 C) $563.82 D) $597.24 4) If you invest $750 ix months at 8 percent compounded semiannually, how much would you accumulate at the end of 10 years? A) $10,193 B) $10,065 C) $22,334 D) $21,731 5) How much money must you pay into an account at the beginning of each of 20 years in order to have $10,000 at the end of the 20th year? Assume that the account pays 12% per year, and round to the nearest $1 A) $111 B) $1,195 C) $124 D) $139