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Present and future value tables of $1 at 9% are presented below. un WNIZ FV $1 PV $1 1 1.09000 0.91743 2 1.18810 0.84168 3 1.29503 0.77218 4 1.41158 0.70843 5 1.53862 0.64993 6 1.67710 0.59627 FVA $1 1.0000 2.0900 3.2781 4.5731 5.9847 7.5233 FVAD $1 1.0900 2.2781 3.5731 4.9847 6.5233 8.2004 PVA $1 0.91743 1.75911 2.53129 3.23972 3.88965 4.48592 PVAD $1 1.00000 1.91743 2.75911 3.53129 4.23972 4.88965 You want to invest $7,800 annually beginning now in order to accumulate $38,140 for a down payment on a house. If you can invest at an interest rate of 9% compounded annually, about how many years will it take to accumulate the required amount? Multiple Choice 6 years Multiple Choice 6 years 4 years 3 years 5 years Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 3.0909 2.82861 3.1836 2.91347 4 1.12551 0.88849 4.1836 3.71710 4.3091 3.82861 5 1.15927 10.86261 5.3091 4.57971 5.4684 4.71710 6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971 7 1.22987 10.81309 7.6625 6.23028 7.8923 6.41719 8 1.26677 10.78941 8.8923 7.01969 9.1591 7.23028 9 11.30477 0.76642 10.1591 7.78611 10.4639 8.01969 10|1.34392 0.74409 11.4639 8.53020 11.8078 8.78611 11 1.38423 0.72242 12.8078 9.25262 13.1920 9.53020 12 1.42576 0.70138 14.1920 9.95400 14.6178 10.25262 1.46853 0.6809515.6178 10.63496 16.0863 10.95400 14 1.51259 0.66112 17.0863 11.29607 17.5989 11.63496 15 1.55797 0.64186 18.5989 11.93794 19.1569 12.29607 16 1.60471 0.62317 20.1569 12.56110 20.7616 12.93794 13 Rosie's Florist borrows $420,000 to be paid off in five years. The loan payments are semiannual with the first payment due in six months, and interest is at 6% What is the amount of each payment

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