1. Find the future value of an ordinary annuity of $6,000 paid quarterly for 3 years, if the interest rate is 9%, compounded quarterly. (Round your answer to the nearest cent.)

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2. The Weidmans want to save $30,000 in 4 years for a down payment on a house. If they make monthly deposits in an account paying 12%, compounded monthly, what is the size of the payments that are required to meet their goal? (Round your answer to the nearest cent.)

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3. Suppose a recent college graduate's first job allows her to deposit $250 at the end of each month in a savings plan that earns 6%, compounded monthly. This savings plan continues for 13 years before new obligations make it impossible to continue. If the accrued amount remains in the plan for the next 15 years without deposits or withdrawals, how much money will be in the account 28 years after the plan began? (Round your answer to the nearest cent.)

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4. a) (a) Patty Stacey deposits $1200 at the end of each of 5 years in an IRA. If she leaves the money that has accumulated in the IRA account for 25 additional years, how much is in her account at the end of the 30-year period? Assume an interest rate of 11%, compounded annually. (Round your answer to the nearest cent.)

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b). Suppose that Patty's husband delays starting an IRA for the first 10 years he works but then makes $1200 deposits at the end of each of the next 15 years. If the interest rate is 11%, compounded annually, and if he leaves the money in his account for 5 additional years, how much will be in his account at the end of the 30-year period? (Round your answer to the nearest cent.)

5. a). A small business owner contributes $4,000 at the end of each quarter to a retirement account that earns 6% compounded quarterly.

(a) How long will it be until the account is worth at least $150,000? (Round your answer UP to the nearest quarter.)

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b). (b) Suppose when the account reaches $150,000, the business owner increases the contributions to $6,000 at the end of each quarter. What will the total value of the account be after 15 more years? (Round your answer to the nearest dollar.)

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