Use the following 8% interest factors. present value of ordinary annuity future value of ordinary annuity 7 periods 5.2064 8.92280 8 periods 5.7466 10.63663 9 periods 6.2469 12.48756 korman company wishes to accumulate $1,000,000 by may 1, 2025 by making 8 equal annual deposits beginning may 1, 2017 to a fund paying 8% interest compounded annually. what is the required amount of each deposit?
a. $87,051
b. $94,016
c. $100,780
d.$174,016

A$100 million interest rate swap has a remaining life of 10 months. under the terms of the swap, the six-month libor is exchanged semi-annually for 12% per annum. the six-month libor rate in swaps of all maturities is currently 10% per annum with continuous compounding. the six-month libor rate was 9.6% per annum two months ago. what is the current value of the swap to the party paying floating? what is its value to the party paying fixed?