You are comparing two annuities which offer quarterly paymen…

You are comparing two annuities which offer quarterly payments of $2,500 for five years and pay 9% interest. Annuity A will pay you on the first day of each quarter while annuity B will pay you on the last day of each quarter. Which one of the following statements is correct concerning these two annuities?

You’ve arranged a loan with your bank that requires you to m…

You’ve arranged a loan with your bank that requires you to make monthly payments of $[PMT] over a period of [N] years. The loan carries an annual interest rate of [R]%, compounded monthly. Based on these terms, what was the original amount you borrowed from the bank? (Round answer to 2 decimal places, do not round intermediate calculations)