5.If you deposit $1,000 in an account that earns 5% per year (compounded monthly), what will the balance in the account be at the end of 5 years?

$2,272

$2,280

$2,566

$2,276

6.A borrower takes out a 30-year mortgage loan for $250,000 with an interest rate of 5%. What would the monthly payment be?

$1,542.45

$1,555.44

$1,610.46

$1,694.33

7. a borrower takes out a 30-year mortgage loan for $300,000 with an interest rate of 5% and monthly payments. What portion of the first month's payment would be applied to interest?

$1,340

$1,300

$1,250

$1,200

A borrower has a 30-year mortgage loan for $300,000 with an interest rate of 6% and monthly payments. If she wants to pay off the loan after 8 years, what would be the outstanding balance on the loan?

$271,246

$274,886

$266,667

$263,316