1.) New Body, a gym, bought new exercise equipment on credit. The purchase price was $10,438.88. They secure the loan with a financing company that charges 6.25% per year compounded quarterly for 6 years. How much are their quarterly payments?Identify the type of problem.

2.) Help is Here, a wrecker company, will soon need to purchase a new wrecker. The company anticipates needing $35,000 in 3 years. Their credit union offers an account that pays 3.4% per year compounded monthly for 36 months. Find the monthly payment needed to accumulate the desired sum.Identify the type of problem.

3.) Mark and Mindy are new parents. They wish to start saving for their son's college education. They anticipate they'll need $150,000 in 18 years. How much should they deposit quarterly in an account that pays 7.75% per year compounded quarterly, to have the desired funds in 18 years?