(3) If you deposit $5,000 every other month into an account that pays 5% per year compounded monthly, how much will you have after 15 years? The first payment is made at the end of month 2. Hint: compute an effective interest rate. (4) Taylor has a retirement account that pays 4% per year compounded monthly. Every month for 20 years, Taylor deposits $444. The day the last deposit is made, the interest rate increases to 6% per year compounded monthly. During retirement, Taylor plans to make equal quarterly withdrawals for 15 years, thus depleting the account. (The first withdrawal occurs one quarter after the last deposit.) How much can be withdrawn each quarter? (5) You would like to purchase a house and can afford a 20% down payment and a monthly payment of $2,200 including mortgage and taxes. The annual tax rate is 1.3% of the purchase price and there is a special assessment (a form of tax) for the local school district of $1500 per year. You can assume that 1/12th of the tax and assessment is paid each month. If the interest rate is 5%/year compounded monthly, what is the most expensive house you can afford