1.) Find the amount by which the interest compounded annually is larger than the siple interest. (Round to the nearest cent.) Principal: $930 Rate: 6% Years: 7 2.) Find the amount by which the interest compounded annually is larger than the simple interest. (Round to the nearest cent.) Princial: $910 Rate: 4% Years: 17 3.) Barbara knows that she will need to buy a new car in 6 years. The car will cost $15,000 by then. How much should she invest now at 4%, compounded quarterly so that she will have enough to buy a new car? a.) 11,813.49 b.) 11,398.77 c.) 12,328.91 d.) 13,319.57 4.) If inflation is 4% a year compounded annually, what will it cost in 25 years to buy a house currently valued at $374,000? (round to the nearest cent.) 5.) Find the monthly house payment necessary to amertize the following loan. $116,000 at 6.6% for 30 years 6.) Find the monthly house payments necessary to amortize the following loan. $459,000 at 6.4% for 15 years 7.) Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. R =$2,500 i = 7% interst compounded quarterly for 16 years