1 . John got a loan of $100,000 that is to be repaid with uniform periodic payments at 5% per year compounded monthly over 30 years.

a. What is payment if payments are made annually?

What is payment if payments are made monthly?

b. If payments are monthly. Determine the amount of interest and equity for month 1 and 2

2.

a. Joe deposits $6000 into a mutual fund every year for 30years. The fund earns 6% per year compounded yearly. How much is in the account after 30years?

b. How much would the account be worth after 30years if his money had earned 6% per year compounded quarterly?

c. How much would the account be worth after 30years if his money had earned 6% per year compounded continously?