1. You own 1000 shares of MMM that you bought for $153. You also have written 10 call option contracts on MMM, at a premium of $1.7 and with a strike price of $156, maturing in 2 months. If at maturity of the option, the stock price is $169, what is your net profit on this position?
2. Jane took out a 10-year loan for $71321 from her local bank at an annual rate of 7.5%. If she plans to make monthly payments, how much will each payment be?
3. Find the present value annuity factor for a 13-year annuity whose annual rate is 9.2% with daily compounding.