6. Hunan bought a car priced at $15,700 for 15% down and equal monthly payments for three years. If interest is

8% compounded monthly, what is the size of the monthly payment?

7. Starting six months after her grandson Robin's birth, Mrs. Devine made deposits of $160 into a trust fund every

six months until Robin was eighteen years old. The trust fund provides for equal withdrawals at the end of each

six months for four years, beginning six months after the last deposit. If interest is 5.75% compounded semi-annually, how much will Robin receive every six months?

8. contributed $440.00 every month into an RRSP for 22 years. What nominal annual rate of interest will the RRSP earn if the balance in Jocelyn's account just after she made her last contribution was $500,000.00?

9. Property worth $185,000.00 can be purchased for 5% down and mortgage payments of $3500.00 at the end of each quarter for 25 years. What is the nominal annual rate of interest compounded quarterly?