4. You know the payment amount for a loan and you want to know how much was borrowed. a. Do you compute a present value or a future value?

5. You want to receive $5,000 per month in retirement. If you can earn .75% per month and you expect to need the income for 25 years, how much do you need to have in your account at retirement?

6. You want to receive $5,000 per month for 5 years. How much would you need to deposit today if you can earn .75% per month?

What monthly rate would you need to earn if you only have $200,000 to deposit?

7. Suppose you have $200,000 to deposit and can earn .75% per month. a. How much could you receive every month for 5 years?

8. Future Values for Annuities: Suppose you begin saving for your retirement by depositing $2,000 per year in an IRA. If the interest rate is 7.5%, how much will you have in 40 years?

Please show your work :)