4. What is the amount of annuity of monthly payments of BD 540 each if money is worth 6% annual interest for 15 years?

5. Layal wants to have BD 11000 in her account by the end of 12 years and 96 months. How much should she invest today in the bank paying 7% quarterly?

6. Nada recently set up a tax-deferred annuity to save for her retirement. She arranged to have BD 80 taken out of each of his monthly checks; it will earn 9% annual interest. She just had her 25 birthday, and her ordinary annuity comes to term when she is 65. Find the following:

a. Find the future value of Nadas annuity. (3 Marks)

b. Find Nadas total contribution to the annuity. (1 Mark)

c. Find the total interest earned on the annuity. (1 Mark)