1. You want to purchase a car that costs $25390. You can afford $1929 as a down payment and will borrow the rest. The bank has offered you a rate of 4.17% on a 4-year loan. What is your monthly payment?

2. My Brother will invest $164 per month. If the rate is 8.02%, how much will you have in 19 years?

3. My Sister would like to have $38339 in 7 years. If the rate is 8.33%, how much do you have to invest each year?

4. Imagine you would like to have $49402 in 16 years. If the rate is 9.07%, how much do you invest monthly?

5. My grandfather has an annuity that is worth $89764 today. It will give him monthly payments for 21 years. If the rate is 4.04%, what will be his monthly payment?

6. My mother has an annuity that will give her monthly payments for 6 years. She tells you it is worth $134859 today. If her required return is 11.04%, what is the monthly payment?

7. My Sister will invest $200 per year. If the rate is 9.18%, how much will she have in 11 years?