1-The ABC concreting company set up a sinking fund to assist in buying a new truck in 5 years time. They can only afford $3000 a quarter which is paid into a savings account with an interest rate of 8% p.a. Assuming quarterly compounding, what will be the size of the sinking fund after 5 years? (Assume ordinary annuity).

2- Colin invests $500 per month, paid into a savings account for 10 years. What is the balance of the account at the end of the period assuming an interest rate of 7% compounded monthly?

3- In 5 years, a printing machine is to be replaced. A new machine is expected to cost $33000. Assuming an annual interest rate of 8% compounded monthly, what will be the size of each monthly payment?