1.) (Section 58-3) Your friend Pete, who is 25 years old, just landed his dream job and is beginning his career. To save up for retirement, he wants to deposit a certain amount of money from his monthly paycheck into an account that earns 7.2% interest, compounded monthly. He wants to do this from now until he turns 65 years old and retires. How much will he have to deposit each month so that when he retires, he'll have $2,000,000? Round and label appropriately. 2 3.) (Section S8-3) Dale, who is also 25 years old, is highly motivated to retire early. Instead of doing what Pete does, Dale wants to contribute double Pete's amount to his retirement account (earning the same interest and compounding as Pete's account). If Dale does this, how long must he work and deposit money in order to reach the $2,000,000 goal? Label appropriately and round to at least one decimal place. 4.) (Section S8-5) Margaret would like to invest in a lake cabin. She has $34,000 saved up for a down payment on a cabin that is listed for $289,000. Her local credit union offers 30-year mortgages to be repaid at annual interest rate 3.6%, compounded monthly. If she uses her down payment, how much will Margaret's monthly payments be for the next 30 years? 5.) (Section 88-5) How much of Margaret's first monthly payment goes toward interest? Give as a dollar amount, as well as a percentage (accurate to one decimal place) of the total monthly payment amount