1. You are borrowing $5,370 to buy a car. The terms of the loan call for monthly payments for 5 years at a 5.50 percent interest compounded monthly. What is the amount of each payment?
$99.78
$77.96
$77.41
$102.57
$98.23
2. Winter Time Adventures is going to pay an annual dividend of $3.05 a share on its common stock next week. This year, the company paid a dividend of $2.90 a share. The company adheres to a constant rate of growth dividend policy. What will one share of this common stock be worth 11 years from now if the applicable discount rate is 10.0 percent?
$101.72
$104.61
$110.02
$144.26
$119.00