2. a) Sarah invests S450.00 at 10% compounded monthly for 5 years. Find the amount in Sarah's account at the end of 5 years. b) Derek took out a loan of a certain size with 8% annually attached. After 5 years, Derek repays the loan with a payment of S7500,00. Find the amount that Derck borrowed initially 3. Robin owes $6000 after 3 years and S4500 after 7 years. Robin is unable to meet her obligation after 3 years and by mutual agreement is allowed to pay off both notes with a single payment after 6 years. Find the size of Robin's payment after 6 years if 6.5% quarterly is used in the settlement. 4 Dan borrows $4500,00 with 9% simple interest and repays this own with a payment of $700,00 after 3 months, $500,00 after 7 months then a final payment at the end of one year to settle the debt. Find the size of Dan's payment after one year using US Rule. S. a) Riley takes out a loan for S5500,00 with 8.5% compounded monthly and repays this loan with an equal monthly payment at the end of each month for 5 years. Find the size of Riley's monthly payment b) Suzette makes deposits of $250.00 at the beginning of each quarter for 10 years into an account carning 8.5% quarterly. Find the amount in Suzette's account after 10 years 6. Suppose I make a deposit of $6800.00 into a bank account caming 7% monthly today with the hopes of making an equal withdrawal each year for four years with the first coming exactly 7 years from now. Find the size of this equal annual withdrawal 7. A family takes out a home loan for $180,000 at 6 monthly and plans on paying back the loan with an equal payment at the end of each month for 30 years. However, after 20 years (Immediately after the 241 payment) the loan is refinanced to 5% a) Find the original monthly payment (the monthly payment for the first 20 years). b) Suppose the homeowner keeps the same loan duration after refinancing Compute their monthly payment after refinancing 8. Scan's lawn service needs $4,800,00 today and borrow the money from Bill's bank Hill's bank requires interest payments paid at the end of each quartet for five years according to a 5.5% simple interest rate as well as the full $4,800.00 at the end of five years. To reach the $4,800.00 obligation after years, Sean's lawn service sets up a sinking fund caring 5.3% quarterly. Find the total quarterly obligation for Sean's lawn service. 9. You make a deposit today into an account earning 6.5% annually today with the hopes of making a $1000 withdrawal at the end of each year indefinitely. Find the amount you need to deposit today in oder to make this annual withdrawal if the first is made exactly one year from today