Saved Question 33 (1 point) The local basis is "normally" more volatile than the market price for grain (especially when adjusted for regular seasonal changes) "normally" more stable than the market price for grain (especially when adjusted for regular seasonal changes) always trades as a negative value always trades as a positive value Question 34 (1 point) Saved Three key components of the "basis" as use in this class are: (1) administrative costs, (2) and (3) transportation costs from the producer's local elevator to New Orleans; local supply & demand characteristics transportation costs from the producer's local elevator to New Orleans; export market supply & demand characteristics transportation costs from the producer's local elevator to Chicago; export market supply & demand characteristics transportation costs from the producer's local elevator to Chicago; local supply & demand characteristics tion: Question 36 (1 point) Saved What is the effective annual interest rate of the loan if semiannual payments are made? 1) 7.27% 2) 7.43% 3) 7.00% 4) 7.40% 7.40% Question 37 (1 point) Saved Maggie Driver is a professional golfer who has just signed a $2.2 million contract. The terms are five annual payments of $440,000 each. Each payment is payable at the end of each year. Determine the present value of the contract to Margaret, assuming her interest rate is 10%. (round to the nearest whole dollar) 1) $1,241,843 2) $1,516,315 3) not enough information to accately determine the answer 4) $1,667,946 Question 38 (1 point) Saved Upon graduation and employment, you purchase a new car with financing from a financial institution. You take out a loan of $35,000 repayable in 42 monthly payments at an annual interest rate of 6%. Determine the level of the monthly payments. Round to the nearest whole dollar 1) $930 2) $845 13) $926 4) $854 3