1. What monthly payment is required to amortize a loan of $30,000 over 12 years if interest at the rate of 7% year is charged on the unpaid balance and interest calculations are made at the end of each month? (Round your answer to the nearest cent.)
2. How long will it take for $470 to grow to $1,700 at the following interest rates? (Do not round intermediate calculations. Round your answers to 2 decimal places.)
4.7%
8.7%
16.7%
3. Nynet, Inc., paid a dividend of $3.76 last year. The company's management does not expect to increase its dividend in the foreseeable future. If the required rate of return is 13.0 percent, what is the current value of the stock?