Please do these problems on excel and by hand

6_____You borrowed $28,000 from the bank at 7.25%. This loan is to be paid back over eight years, with payments made at the end of each year. Over the life of the loan, how much have you paid in interest?

$42,612

$37,877

$ 9,877

$ 4,315

7_____You make a $4,500 investment that gives you a cash flow of $700 in year one, $850 in year two, $1,800 in year three, and $1,975 in year four. What annual rate of return has your investment

generated? Assume all cash flows are received at the end of each year and no terminal value.

3.22%

5.94%

6.15%

7.40%

8_____What is the present value of an annuity due that pays you $1,200 per year for the next 16 years? Assume no terminal value and a discount rate of 7%.

$11,336

$12,130

$ 9,334

$ 7,726

9____What is the effective rate of interest on a savings account that pays you 8% compounded monthly?

9.50%

8.30%

8.00%

6.70%

10 ____You make a $60,000 investment today, and your portfolio produced a 10% return (compounded monthly). If you were to take $550 out of this account at the end of each month, how much would be in the account at the end of twenty years?

$ 857,337

$ 322,545

$ 22,032

$ 18,551