1)Your grandparents would like to establish a trust fund that will pay you and your heirs $185,000 per year forever with the first payment 8 years from today. If the trust fund earns an annual return of 3.6 percent, how much must your grandparents deposit today?
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2)Smashed Pumpkins Co. paid $152 in dividends and $582 in interest over the past year. The company increased retained earnings by $486 and had accounts payable of $618. Sales for the year were $16,335 and depreciation was $728. The tax rate was 38 percent. What was the company’s EBIT?
3)Roger has just lost a lawsuit and has agreed to make equal annual payments of $18,300 for the next 5 years with the first payment due today. The value of this liability today is $77,000. What is the interest rate on the payments?
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