5. Calculate the future value of an annuity of $5,000 for eight years, Deposited at 6%.

6. Calculate the present value of an annuity of $3,900 for four years, assuming an opportunity cost of 10%.

7. Cara has a seven-year loan, at 8%, with a bank that requires payments at the end of the year in the amount of $960.43.

Calculate the original amount of the principal.

8. To buy his favorite car, Larry is planning to accumulate money.Investing your Christmas bonds for the next five years in a financial instrument that pays you a 10% annual return. The car will cost you $20,000 at the end of the fifth year and Larry's annual Christmas bonuses are $3,000. Will Larry be able to accumulate enough money to buy the car? Work on the computation.