1. If the present value annuity factor for 10 years at 10% interest rate is 6.14

1. If the present value annuity factor for 10 years at 10% interest rate is 6.1446 what is the present value annuity factor for an equivalent annuity due? a. 6.1446b. 7.38c. 6.759d. None of the above2. If the present annuity factor is 3.8896 what is the present value annuity factor for anequivalent annuity due if the interest rate is 9%? a. 3.5684b. 4.2397c. 3.8896d. None of the above3. For $10000 you can purchase a 5-year annuity that will pay $2358.65 per year for five years. The payments are made at the beginning of each year. Calculate the effective annual interest rate implied by this arrangement: (approximately) a. 8%b. 9%c. 10%d. None of the above4. John House has taken a $250000 mortgage on his house at an interest rate of 6% per year. If the mortgage calls for twenty equal annual payments what is the amount of each payment? a. $21796.14b. $10500.00c. $16882.43d. None of the above

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