1. Investing for Retirement. Monica has decided that she wants to build enough retirement wealth that, if invested at 7 % per year, will provide her with $3,000 monthly income for 30 years. To date, she has saved nothing, but she still has 20 years until she retires. How much money does she need to contribute per month to reach her goals? $671.78 865.62 3,000.00 $7,025.77 Future Value. Compute the future value in year 10 of a S1,000 deposit in year 1 and another $1,500 deposit at the end of year 4 using an 8 % interest rate. 2. $3,120.73 $4,379.31 S4,500.00 $5,397.31 Effective Annual Rate. A loan is offered with monthly payments and a 6.5% APR. What is the loan's effective annual rate (EAR)? 3. 569% 6.697 % 7.28 % 12.63% Loan Payments. You wish to buy a S15,000 car. The dealer offers you a 4 year loan with a 9 % APR. What are the monthly payments? 4. S260.78 S312.50 S373.28 S3,820.56 Present Value of an Annuity Due. If the present value of an ordinary, 4-year annuity is $1,000 and interest rates are 6 %, what is the present value of the same annuity due? 5. S943.40 1,000.00 1,040.00 1,060.00 Present Value. What is the present value of a S500 deposit in year 1 and another $100 deposit at the end of year 4 if the interest rates are 5 %? 6. S480.00 $493.62 S558.46 582.27