2) You borrow $15,000 at 5% interest to finance the purchase of a used car. You must pay back the loan in equal annual installments in four years. Create the loan amortization table. The top of page 178 of the text has an excellent example. Note, the first step is to calculate your annual payment using the PMT financial formula in Excel. 3) Started today you deposit $100 for each of the next 28 years into an account paying 4%. What is the future value of your account? Also calculate the value if interest rate is 7% and 10%. 4) You go to Melvindale Bank because you heard they have good interest rates on deposits. You meet with the bank manager and she says they have two account options. Option A pays 8% interest compounded annually. Option B pays 7.85% compounded daily. You plan to deposit $15,000 today for five years. How much would you have in five years if you selected option A? How much would you have if you selected option B? 5) You owe $13,000 in credit card debt, The interest charge is 1.5% monthly You want to pay off this credit card in five years and you plan to make the first payment today. How much do you need to pay each month to pay off your credit card in five years? (See Chapter 6, page 178. You do not need to create the table shown, just determine the monthly payment)