Please show your work!

6) What is the future value of the following cash flows at the end of year 3 if the interest rate is 7.25%? The cash flows occur at the end of each year. Year 1: $6800

Year 2: $2100

Year 3: $0

	$8,758.04
	$8,806.39
	$10,073.99
	$10,314.00
	$10,804.36

7) If a student borrows $20,000 to start a business as a 5 year, 10% loan, the annual payment is

	$2,000.00
	$3,275.95
	$4,000.00
	$5,275.95
	None of these

8) You invested $1,440 in an account that pays 3 percent simple interest. How much more could you have earned over a 4-year period if the interest had compounded annually?

	$7.54
	$18.07
	$7.61
	$7.93
	$8.33

9) One year ago, you invested $2,950. Today it is worth $3,600.50. What rate of interest did you earn?

	22.05 percent
	22.00 percent
	18.07 percent
	21.83 percent
	18.43 percent

10) If a student borrows $20,000 to start a business as a 5 year, 10% loan, assume annual payments, the decrease in principal in year 1 is

	$2,000.00
	$3,275.95
	$4,000.00
	$5,275.95
	None of these