Insurance company is selling one perpetuity product

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Reference no: EM131982816

1. What is the present value of $36 received at the beginning of each year for the next 9 years? The first payment will be received today, and the annual interest rate is 7.37% compounded annually. Please round your answer to the second decimal without dollar sign. e.g. 1.11

2. Insurance company is selling one perpetuity product that will pay $464 every year. The annual interest rate is 8.65% compounded annually. How much you need to pay to buy such perpetuity product today?

3. You wish to borrow $2,000 to be repaid in 12 monthly installments of $189.12. The annual interest rate is? Please convert your answer into decimals and round to the second decimal: such as 0.00.

Reference no: EM131982816

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