1. What is the future value of $1,000, placed in a saving account for four years if the account pays 8.00%, compounded quarterly? (Your answer should be correct to two decimal places.)

2. If you were to borrow $9,700 over five years at0.13 compounded monthly, what would be your monthly payment?

3. Your uncle promises to give you $500 per quarter for the next five years. How much is his promise worth right now if the interest rate is 0.09 compounded quarterly

4. AMP, Inc., has invested $2,165,800 on equipment. The firm uses payback period criteria of not accepting any project that takes more than four years to recover costs. The company anticipates cash flows of $448,386, $512,178, $563,755, $764,997, $816,500, and $825,375 over the next six years. What is the payback period?