1. You decide to begin saving towards the purchase of a new car in 5 years. If you put $1,000 at the end of each of the next 5 years in a savings account paying 6% compounded annually, how much will you accumulate after 5 years? 2. James Smith has a 4-year ordinary annuity that pays $1,000 per year and has an interest rate of 6%. 1. Calculate the future value of this ordinary annuity. 2. Assuming this was an annuity due, calculate the future value of this annuity. 3. You have contacted a number of car dealerships to determine the best interest rate on a new automobile loan. A Ford dealership has quoted you a 5-year, 10% loan in the amount of $35,000 that will require monthly payments. 1. What is the monthly loan payment? 2. What will be the loan's effective annual interest rate (EAR)