Question: Please Help! 21. Cloud Strife is going to place $12,500 into a certicate of deposit (CD) at a 6% annual rate (compounded annually) with a

 Please Help! 21. Cloud Strife is going to place $12,500 into

Please Help!

a certicate of deposit (CD) at a 6% annual rate (compounded annually)

21. Cloud Strife is going to place $12,500 into a certicate of deposit (CD) at a 6% annual rate (compounded annually) with a maturity of 30 months. How much money will Cloud receive when the CD matures? 22. Nathan Drake is considering borrowing $100,000 for 30 years at a compound annual interest rate of 9% pa. The loan agreement calls for 30 equal annual payments, to be paid at the end of each of the next 30 years (payments include both principal and interest.) What is the annual payment that will fully amortize Nathan's loan? 23. Clementine and Lee expect to deposit the following cash flows at the end of years 1 through 5, $1,000; $4,000; $9,000; $5,000; and $2,000 respectively. Alternatively, they could deposit a single amount today and have the same amount in your account at the end of year 5. How large does the single deposit need to be today if Clementine and Lee can earn 10% compounded annually on their account? 24. Ellie is evaluating an investment that will provide the following returns at the end of each of the following years: year 1, $1 1,500; year 2, $10,000; year 3, $7,500; year 4, $5,000; year 5, $2,500; year 6, $0; and year 7, $12,500. Ellie believes that she should earn an annual rate of 8 percent on this investment. How much should Ellie pay for this investment

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