QUESTION 17 When you were born, your parents opened an investment account in your name and deposited $25,000 into the account. The account has earned an average annual rate of return of 12 percent. Today, the account is valued at $241,157 33. How old are you? o 20 years 19 years 18 years 21 years QUESTION 21 Calvin just financed some new furniture through his credit union. His loan requires the same payments of $250 a month for 6 years. Assuming that all payments are paid timely, his last payment will pay off the loan in full. What type of loan does Calvin have? perpetual o lump sum pure discount amortized QUESTION 22 The Caramel Co. is considering the purchase of some new equipment. The quote consists of a quarterly payment of $2,500 for 4 years at 8 percent annual interest. What is the purchase price of the equipment? $31,498.29 $32,927.65 o $33,944 27 QUESTION 23 Today, you are purchasing a 10-year, 7 percent annuity at a cost of $80,000. The annuity will pay annual payments. What is the amount of each payment? o $10,122.82 $11,390.20 o $12,254.69 $13,387 29