1. If $10,000 is placed today in an account that earns a 6% annual interest rate, compounded monthly, what will it be worth in 5 years?

2. How much interest are you saving if you pay off a loan early with the following information? The annual payment is $700, the loan balance you are to pay off is $3,236, the annual interest rate is 8%, and there are 6 annual payments remaining.

3. You just deposited $10,000 today in a bank saving account earning 6% a year. How much can you withdraw (the same amount) from the account at the end of every 6 months for the next 3 years, assuming the 8% interest rate compounds semiannually?

4. What is the future value of a 3-year annuity with semiannual payments of $200 if the interest rate is 8%?