The portfolio manager of a tax-exempt fund is considering buying a $5,000,000 bond with eight years maturity and a coupon rate of 6%. the coupons will be invested in a risk-free cash account with an apr of 4.5%. at the end of eight years, the portfolio manager plans to reinvest the proceeds for three more years and expects that for the three-year period, an annual interest rate of 7.2% can be earned. what is the future value of this investment? assume annual coupons and annual compounding.

Benning manufacturing company is negotiating with a customer for the lease of a large machine manufactured by benning. the machine has a cash price of $980,000. benning wants to be reimbursed for financing the machine at a 9% annual interest rate. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) (use appropriate factor(s) from the tables provided.) required: 1. determine the required lease payment if the lease agreement calls for 10 equal annual payments beginning immediately. 2. determine the required lease payment if the first of 10 annual payments will be made one year from the date of the agreement. 3. determine the required lease payment if the first of 10 annual payments will be made immediately and benning will be able to sell the machine to another customer for $68,000 at the end of the 10-year lease.