1. Compute Payment: You are considering buying a house for $180,000 at 4% interest. Your mortgage will be for 15 years. What will your monthly payment be? (Note: you are given an annual interest rate, but will be paying monthly. Therefore, N = 15 x 12; and I/Y = 4 divided by 12.)

2. Compute PV: You want to buy a car with cash in 5 years. If you can earn 6% compounded annually on an investment, how much do you need to invest today to have $20,000 in 5 years?

3. Compute FV: If you invest $5000 today earning 10% interest per year, what will your investment be worth in 20 years?

4. Compute Time (N): You owe $5000 on a credit card that charges an annual rate of 24%. Note: Credit cards compound interest monthly. (24/12 = 2 for the interest rate) If you make minimum monthly payments of $125, how many months will it take to pay it off, assuming you do not charge anything else? How many years?

5. Compute I/Y (interest rate): If you have invested $2500 today, and it will be worth $5000 in 10 years, what is the annual interest rate you are earning?