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. Suppose you signed a contract for a special assignment over the next 15 years. You will be paid 15,158 at the end of each year. If your required rate of return is 8.8%, what is this contract worth in today?

2. You need a loan to purchase new equipment. The loan will be paid off over 3 years with payments made at the end of every quarter. If the stated annual rate is 13.51% and quarterly payments are $766, what is the loan amount?

3. You would like to purchase a car for $12,225. If the car loan is 10.4% financed over 3 years, what will the monthly payments be for this car?

4. What is the most that you would pay for an investment that promises to pay $19,846 a year forever with the first payment starting one year from now? Assume that your required rate of return for this investment is 13.11%.

5. A loan has a stated annual rate of 6.79%. If loan payments are made monthly and interest is compounded monthly, what is the effective annual rate of interest? Please be sure to answer as a percentage.