1. Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest cent.)

$500/semiannual period for 15 years at 3%/year compounded semiannually

2. Suppose payments were made at the end of each month into an ordinary annuity earning interest at the rate of 3.5%/year compounded monthly. If the future value of the annuity after 11 years is $75,000, what was the size of each payment? (Round your answer to the nearest cent.)

3. The Flemings secured a bank loan of $336,000 to help finance the purchase of a house. The bank charges interest at a rate of 2%/year on the unpaid balance, and interest computations are made at the end of each month. The Flemings have agreed to repay the loan in equal monthly installments over 25 years. What should be the size of each repayment if the loan is to be amortized at the end of the term? (Round your answer to the nearest cent.)