1) Maya buys an annuity due with monthly payments.

a) The annuity lasts 5 years with monthly payments of $200, and i⁽⁴⁾ = 10%. How much does Maya pay?

b) The annuity lasts 5 years, i⁽⁴⁾ = 10%, and Maya pays $10,000 to buy it. How much are the monthly payments?

c) The annuity lasts 5 years, Maya pays $10,000 to buy it, and monthly payments are $200. What is i⁽⁴⁾?

2) A loan of $50,000 is to be repaid with 10 semi-annual payments. The first payment is X in 6 months time. i(2) = 4%. Find X if

a) Payments increase by $500 every 6 months.

b) Payments increase by 10% every 6 months.

Please be sure to show work.