1. [1'2 Points] DETAILS WANEFMAC6 2.3.002. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the amount accumulated Fv In the sinking fund. HINT [See Example 1.] (Assume endiofiperiod depoSIts and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $150 is deposited monthly for 19 years at 6% per year Ms: 2. [-32 Points] DETAILS WANEFMACG 2.3.007. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the periodic payments PMT necessary to accumulate the amount given in a sinking fund. HINT [See Example 2.] (Assume end-ofperiod deposits and compounding at the same intervals as dep05its. Round your answer to the nearest cent.) $50,000 in a fund paying 2% per year, with monthly payments for 5 years was: 3. [42 Points] DETAILS WANEFMAC6 2.3.013. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the present value PV of the annuity necessary to fund the Withdrawal given. HINT [See Example 3.] (Assume end-ofperiod withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $100 per month for 10 years, if the annuity earns 2% per year was: 4. [1'2 Points] DETAILS WANEFMAC6 2.3.015. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the present value PV of the annuity necessary to fund the Withdrawal given. HINT [See Example 3.] (Assume endiofiperiod withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $2,200 per quarter for 20 years, if the annuity earns 6% per year M: 5. [-32 Points] DETAILS WANEFMACG 2.3.019. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the periodic withdrawals PMTfor the annuity given. HINT [See Example 4.] (Assume end-ofperiod withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $400,000 at 8%, paid out monthly for 11 years was: 5. [42 Points] DETAILS WANEFMAC6 2.3.025. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Determine the periodic payments {WT on the loan given. HINT [See Example 6.] (Round your answer to the nearest cent.) $50,000 borrowed at 7% for 9 years, with monthly payments we: 7. [!2 Points] DETAILS WANEFMACG 2.3.027. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Determine the periodic payments PMT on the loan given. HINT [See Example 6.] (Round your answer to the nearest cent.) $700,000 borrowed at 6% for 9 years, Wltl'l quarterly payments was: 8. [42 Points] DETAILS WANEFMAC6 2.3.057. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER I You have a $6,000 credit card debt, and you plan to pay lt off through monthly payments of $150. If you are being charged 15% interest per year, how long (to the nearest 0.5 years) will it take you to repay your debt? yr 9. [45 Points] - A $105,000 mortgage is amortized over 30 years at an annual interest rate of 3.4% compounded monthly. ASK YOURTEACHER PRACTICE ANOTHER (a) What are the monthly payments? mm: (b) How much interest is paid in all? M: Suppose instead that the mortgage was amortized over 15 years at the same annual interest rate. ((2) What are the new monthly payments? mm: (d) Now how much interest is paid in all? M: (e) How much is saved by amurtizing over 15 years rather than 30