1.) Parents wish to have $130,000 available for achild's education. If the child is now 9 yearsold, how much money must be set aside at 7 % compounded semiannually to meet their financial goal when the child is18?

2.) You would like to have $71,000 available in 15 years. There are two options. Account A has a rate of 6.5% compounded once a year. Account B has a rate of 6% compounded daily. How much would you have to deposit in each account to reach yourgoal? Assume 365 days in a year.

3.) A student borrows $2000 for tuition to be paid back at a simple interest rate of 10% in 3 months. How much does he pay back in 3 months?