2. In order to buy a house, John has determined that he can spend, at most, $1800 at the end of each month. If his mortgage rate is 8% compounded monthly, how large can his 25-year mortgage be? 3. I figure that I need $1,000,000 saved in my RRSP account on the day I retire in 33 years. If I plan to save this $1,000,000 by making biweekly contributions at the end of each 2 week period, how large will these payments need to be? Use a rate of interest of 4% compounded biweekly. 4. You pay $470 per month on your car for a 5 year term. You made a down payment of $5000. What was the price of the car and how much interest did you pay? Assume you were given a rate of 5% compounded monthly. 5. You invest $430 at the end of each month to your RRSP for the next 22 years. How much will be in your account 10 years after the final payment? Assume you earn 5% compounded annually. 6. You invest $255 at the end of each week until your account grows to $66818.97949869595. How many weeks is that? Assume you earn 4% compounded semi-annually. 7. A 4.29534114804% semi-annually compounded rate is equivalent to what quarterly compounded rate and what effective rate? 8. A boat costs $61000. You put 10% down and pay the rest over 10 years with monthly payments. If the rate is 4% per year compounded semi- annually, how large are your payments