1. What is the present value of $546.3 to be received 5 years from now if the discount rate is 20% per year and the discounting period is semi-annual?

2. A young lady invested $50 to plant Christmas trees on her grandfather's farm. When the lady was a first year student in college, six years later, she harvested the trees and sold them for $490. What annual rate of return (i.e. interest rate) did she earn on the investment, assuming she incurred no expenses in the interval?

3. Find the future value in 2 years of $99 that is deposited in an account which pays 12% annual rate with monthly compounding.

4. A 30 year mortgage bears annual interest at 12% and has a principal of $145,852. What will the monthly payments equal assuming monthly compounding?