1. If $1,000 is deposited at the end of each month and earns 9% compounded monthly, will it take more than 42 months or less than 42 months for the total value of the deposits to reach a value of $50,000?

2. What is the approximate annual rate of interest will result in an investment doubling in value in eight years?

3. A $15,000 loan requires payments at the end of each month for five years. If the interest rate on the loan is 12% compounded monthly, calculate the size of each payment.

4.