Your parents are giving you $310 a month for 5 years while you are in college.

Your parents are giving you $310 a month for 5 years while you are in college. At a 8 percent discount rate what are these payments worth to you when you
first start college?

Todd is able to pay $310 a month for 4 years for a car. If the interest rate is 6.2 percent how much can Todd afford to borrow to buy a car?

You are considering an annuity which costs $74100 today. The annuity pays $6000 a year. The rate of return is 5 percent. What is the length
of the annuity time period? (Do not round intermediate calculations.)

You borrow $7030 to buy a car. The terms of the loan call for monthly payments for 7 years a rate of interest of 8 percent. What is the amount
of each payment?

The Good Life Insurance Co. wants to sell you an annuity which will pay you $640 per quarter for 25 years. You want to earn a minimum rate of
return of 4.9 percent. What is the most you are willing to pay as a lump sum today to buy this annuity?