4. If you need $6,0005 years from now, how much of a deposit must you make in your savings account each year, assuming an 8% annual interest rate? 5. You have applied for a home mortgage of $75,000 to finance the purchase of a new home for 30 years. The bank requires a 14% interest rate. What will be the annual payment? 6. Set up an amortization schedule for a $5,000 loan to be repaid in equal installments at the end of each of the next 3 years. The interest rate is 15% 7. Suppose that a company borrows $20,000 for 1 year at a stated rate of interest of 9%. What is the annual percentage rate (APR) if interest is paid to the lender a. Annually b. Semiannually c. Quarterly 8. You borrowed $20,000, to be repaid in 12 monthly installments of $1,891.20. What is the annual interest rate