1.) Roger invests S600.00 at 7% simple interest for 5 years Find the amount in Roger's accountaner 5 years b) Tina invested $500.00 5 years ago in an account eaming some simple interest rate Tina's account is worth $750,00 today, What simple interest rate must have been attached to Tina's count? 2.) Sarah invests $450.00 at 10% compounded monthly for 5 years. Find the amount in Sarah's account at the end of 5 years b) Derek took out a loan of a certain size with 8% annually attached. After years, Derek repays the loan with a payment of 57500.00. Find the amount that Derek borrowed initially 3. Robin owes 56.000 after 3 years and 54500 after 7 years. Robin is unable to meet her obligation after 3 years and by mutual agreement is allowed to pay off both notes with a single payment after 6 years. Find the size of Robin's payment after 6 years if 6.5% quarterly is used in the settlement 4. Dun borrows S4500.00 with 9% simple interest and repays this loan with a payment of $700.00 after 3 months, $500.00 after 7 months then a final payment at the end of one year to settle the debt. Find the size of Dan's payment after one year using U.S. Rule. 5.) Riley takes out a loan for $5500.00 with 8.5% compounded monthly and repays this loan with an equal monthly payment at the end of each month for 5 years. Find the size of Riley's monthly payment b) Surette makes deposits of $250.00 at the beginning of each quarter for 10 years into an account caming 8.54 quarterly. Find the amount in Suzette's account after 10 years 6. Suppose I make a deposit of $6800.00 into a bank account coming 75 monthly today with the hopes of making an equal withdrawal cach year for four years with the first coming exactly 7 years from now. Find the size of this equal annual withdrawal. 7 A family takes out a home loan for $180,000 at 6 monthly and plans on paying back the loan with an equal payment at the end of each month for 30 years. However, after 20 years (Immediately after the 240 payment) the loan is tefinanced to 5% a) Find the original monthly payment (the monthly payment for the first 20 years). b) Suppose the homeowner keeps the same loan duration after refinancing Compute their monthly payment after refinancing & Sean's lawn service needs 54.800.00 today and borrow the money from Bill's bank. Bill's bank requires interest payments paid at the end of each quarter for five years according to a 5.5% simple interest rate as well as the full $4,800.00 at the end of five years. To reach the 54,800.00 obligation after 5 years, Scan's lawn service sets up a sinking fund caring 5.5% quarterly. Find the total quarterly obligation for Scan's lawn service 9. You make a deposit today into an account Caming 6.5% annually today with the hopes of making a $1000 withdrawal at the end of each year indefinitely. Find the amount you need to deposit today in oder to make this annual withdrawal if the first is made exactly one year from today
