1. In order to accumulate enough money for a down payment on a house, a couple deposits $745 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 6 years?

2. Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period.

$14,000; quarterly payments for 13 years; interest rate 7.5%.

The payment should be _______

3. Find the future value for the annuity due with the given rate.

Payments of $180 for 4 years at 0.31% compounded quarterly

The future value of the annuity due is _______

4. Find the future value for the annuity due with the given rate.

Payments of $17,000 for 12 years at 0.24% compounded monthly

The future value of the annuity due is ________

5. Find the interest rate needed for the sinking fund to reach the required amount. Assume that the compounding period is the same as the payment period.

$30,275 to be accumulated in 5 years; quarterly payments of $1300.

The interest rate needed is approximately _______%