1. (30% Marks) What would be the value of a standard uniform gradient of $1500 per year for a period of 5 years. The first payment would be at the end of the second year and the last payment at the end of the 5th year. The interest rate is 7.55%

. a. What is the final payment?

b. What is the total payment of the gradients not including the interest?

c. What is the future worth including the compounding of interest?

d. What is the total interest earned over the 5 years?

e. What is the present worth of the gradient?

f. What is the equivalent annual payment?