Question: When inputting an answer, round your answer to the nearest 2 decimal places. If you need to use a calculated number for further calculations, DO

When inputting an answer, round your answer to the nearest 2 decimal places. If you need to use a calculated number for further calculations, DO NOT round until after all calculations have been completed. For the final answer, Round to 2 decimal places.

1. What is the most you would be willing to pay for an investment that will pay you $170 in one year, $370, in two years, and $99 in three years, if your required rate of return for this type of investment is 5%?

2. Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $29,421 with an annual interest rate of 13.00%. The loan will be repaid over 13 years with monthly payments.

What is the Loan Payment?

3. Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $20,156 with an annual interest rate of 10.00%. The loan will be repaid over 28 years with monthly payments.

What portion of the first monthly payment is Interest?

4. Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $30,762 with an annual interest rate of 10.00%. The loan will be repaid over 19 years with monthly payments.

What portion of the first monthly payment is Principal?

5. Prepare the first row of a loan amortization schedule based on the following information. The loan amount is for $2,556 with an annual interest rate of 9.00%. The loan will be repaid over 34 years with monthly payments.

What is the Loan balance after the first monthly payment?

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