Find the present value of $600 due in the future under the following conditions:10% nominal rate, semiannual compounding, discounted back 4 years$ 279.20$ 895.42$ 406.10$ 888.47$ 6002 points Question 4What is the present value of a perpetuity of $120 per year if the appropriate discount rate is 8%?$1,428.57$714.29$120.00$857.14$1,500.002 points Question 5How much principal would you have repaid after 2 years for a $35,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 8%.$5,965.98$4,094.94$12,409.23$25,000.00$35,000.002 points Question 6Universal Bank pays 6% interest, compounded annually, on time deposits. Regional Bank pays 6.2% interest, compounded quarterly. What is Regional Bank’s effective annual interest rate?6.50%7.00%6.14%6%6.35%2 points Question 7While Mary Corens was a student at the University of Tennessee, she borrowed $16,000 in student loans at an annual interest rate of 4.7%. If Mary repays $1,000 per year, then how long (to the nearest year) will it take her to repay the loan?3016158502 points Question 8How much interest would you have paid after 1 year for a $35,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 8%.$2,800.00$8,765.98$6,594.94$2,500.00$7,000.002 points Question 9How much would be the payment for a $35,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 8%.$6,594.94$5,000.00$8,765.98$7,000.00$2,800.002 points Question 10Sales for Hanebury Corporation’s just-ended year were $15 million. Sales were $8 million 5 years earlier. At what rate did sales grow?50.00%13.40%10.67%53.33%14.87%
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