You have $40,000 saved so far, and will continue to save $400 at the end of each month. If you earn 9% compounded monthly, how much will you have accumulated at the end of 40 years? $2,369,516 $2,099,249 $1,361,648 $3,316,924 none of the above QUESTION 20 A perpetuity returns cashflow in the amount of $250 per month. Using a rate of 6%, what is the present value of the monthly perpetuity? $25,000 $45,000 $125,000 $50,000 none of the above A deferred annuity of $3000 per year will start in year 5 and end in year 30. Using a rate of 7.5%, what is the present value of the deferred annuity? $25,383 $27,735 $34,189 $115,560 none of the above QUESTION 18 A loan has monthly compounding. If the stated (nominal) rate is 15%, what is the effective annual rate? 15.9% 16.1% 15.2% 15.496 none of the above 15.865