1. You recently received a birthday gift of $500 and you decide to save it for later use. If you deposit it into an investment account that earns 6 percent interest, how much will be in the account in 3 years?

2. You borrowed $1,200 to buy a new computer and agreed to pay the loan back 3 years later; if the loan has a 10 percent interest rate, what is the balance you will owe at that time?

3. You recently purchased a new car for 18,000 by agreeing to make equal annual payments for 5 years. If the interest rate on your loan is 8 percent, how much is each payment?

4. In 2 years you will need $800 for a trip you planned to Cost Rica. If your account earns 4 percent interest, how much should you deposit today to reach your goal?