(Present value comparison) Much to your surprise, you were selected to appear on the TV show "The Price is Right." As a result of your prowess in identifying how many rolls of toilet paper a typical American family keeps on hand, you win the opportunity to choose one of the following 51900 today, 56,000 in 9 years or 533,000 in 22 years. Assuming that you can earn 16 percent on your money, which should you choose? If you are offered 56,000 in 9 years and you can eam 16 percent on your money, what is the procent value of $6,000? (Round to the nearest cent) (Related to Checkpoint 5.7) (Calculating an EAR) After examining the various personal loan rates available to you, you find that you can borrow funds from a finance company at 12 percent compounded semiannually or from a bank at 13 percent compounded weekly Which alternative is more attractive? If you can borrow funds from a finance company at 12 percent compounded serannually, the EAR for the loan is !% (Round to two decimal placm.)