1.At your child's birth, you begin contributing monthly to a college fund. The fund pays an APR of 4.9% compounded monthly. You figure your child will need $50,000 at age 18 to begin college. What monthly deposit is required? (Round your answer to the nearest cent.)

2.Suppose you want to save in order to purchase a new boat. Take the APR to be 8.4%. If you deposit $200 each month, how much will you have toward the purchase of a boat after three years? (Round your answer to the nearest cent.)

3.You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4100 per month. You have access to an account that pays an APR of 7.2% compounded monthly. What size nest egg do you need to achieve the desired monthly yield? (Round your answer to the nearest cent.)

4.You are saving to buy a car, and you deposit $200 at the end of each month for two years at an APR of 3.6% compounded monthly. What is the future value for this savings arrangement? That is, how much money will you have for the purchase of the car after two years? (Round your answer to the nearest cent.)

5.You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4000 per month. You have access to an account that pays an APR of 6.0% compounded monthly. This requires a nest egg of $620,827.46. What monthly deposits are required to achieve the desired monthly yield at retirement? (Round your answer to the nearest cent.)