2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest for the account is to be 6% compounded quarterly and the account is to be paid out by quarterly payments of $4800 over six years. What is the size of the monthly deposit? nominal annual rate of interest compounded semi-annually on a loan of $48 000 repaid 5. The amount of $574 is invested monthly at 6% compounded monthly for six years. The balance in the fund is then converted into an annuity paying $3600 at the end of every three months. If interest on the annuity is 5.9% compounded quarterly, for how many months is the term of the annuity? con if interest was 12%