1.Jackie won an annuity that pays RM500 per month for the first ten months and RM800 for the six months. If the money is worth 6% compounded monthly, find the present value of this annuity.

2.Benny won an annuity which pays RM150 at the beginning of each month for thirty months; the first payment being now. What is the present value of the annuity if money is worth 12% compounded monthly?

3.Zubaidah has to pay RM1200 every month for 360 months to settle a housing loan at 4% compounded monthly.

a)What is the original value of the loan?

b)What is the total interest that she has to pay?

4.Awang has to pay RM880 every month for eighty-four month to settle a car loan at 6% compounded monthly. Find the

a)Original value of the loan

b)Total interest he has to pay

5.Hani bought a house by making a down payment of RM45000. The balance was borrowed from a bank which charged interest of 7.0% compounded monthly for twenty-five years with monthly payments of RM1413.56.

a)Find the amount borrowed.

b)Calculate the interest paid for the loan.

c)Find the cash price of the house.

d)If Hani failed to make the first five payments, how much should she pay on the sixth payment to settle all the outstanding arrears?

Can you show to me the formula and the calculation. Thanks