You want to lease a set of golf clubs from Pings Ltd. The lease contract is in the form of 12 equal monthly payments at an APR of 8.6 percent compounded monthly. Because the clubs cost $1,800 retail, Pings wants the PV of the lease payments to equal $1,800. Suppose that your first payment is due immediately. What will your monthly lease payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

Suppose a country's productivity last year was 84. if this country's productivity growth rate of 5 percent is to be maintained, this means that this year's productivity will have to be:

When balancing wheels with either dynamic or road force balancers, technician a says it is really important to follow the instructions provided with the particular balancer you're using. technician b says that when rebalancing a wheel, if it is out of balance, it is best to remove the old weights and recheck the balance before adding new weights. who is correct?

Risk is the risk of a decline in a bond's value due to an increase in interest rates. this risk is higher on bonds that have long maturities than on bonds that will mature in the near future. risk is the risk that a decline in interest rates will lead to a decline in income from a bond portfolio. this risk is obviously high on callable bonds. it is also high on short-term bonds because the shorter the bond's maturity, the fewer the years before the relatively high old-coupon bonds will be replaced with new low-coupon issues. which type of risk is more relevant to an investor depends on the investor's , which is the period of time an investor plans to hold a particular investment. longer maturity bonds have high risk but low risk, while higher coupon bonds have a higher level of risk and a lower level of risk. to account for the effects related to both a bond's maturity and coupon, many analysts focus on a measure called , which is the weighted average of the time it takes to receive each of the bond's cash flows. conceptual question: which of the following bonds would have the largest duration? a)10year-zero coupon bonds b)10year-7% annual coupon bonds c)10year-3% annual coupon bonds d)5year-3% annual coupon bonds e)3year-7% annual coupon bonds