QUESTION 8 If a 5-year ordinary annuity has a present value of $9,250, and if the interest rate is 10 percent, what is the amount of each annuity payment? QUESTIONS South Penn Trucking is financing a new truck with a loan of $10,000 to be repaid in 5 annual end-of-year installments of $2,705.70. What annual interest rate is the company paying? Write your answer as a decimal. QUESTION 10 You recently received a letter from Cut-to-the-Chase National Bank that offers you a new credit card that has no annual fee. It states that the annual percentage rate (APR) is 5 percent on outstanding balances. What is the effective annual interest rate? (This rate is subject to monthly compounding.) Record your answer as a decimal