Apex capital management is selling a security that makes the following payments: $11,000 7 years from today and $31,000 12 years from today. The purchaser of the security will pay $8,000 1 year from today and the remaining amount is due immediately (today). Find the remaining amount that the purchaser will have to pay today if the interest rate is 11.68% p.a.

You are considering buying a security that makes equal annual payments of $284 forever with the first payment one year from today. In addition, the security will pay $2,843 in 7 years and $750 in 12 years from today. How much would you be willing to pay for the security today if the interest rate is 5.9%? Answer Format: ENTER YOUR ANSWER AS A POSITIVE NUMBER INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include “$””,” or any other formatting. Carry computation to at least 4 decimals and round your final answer to 2 decimal places.

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