6. Tammie wants to buy a scooter that costs $3,500. Her mom will loan her the money at 5% annual interest as long as she makes monthly payments over the next 3 years. How much will Tammie's monthly payment be? N I/Y PV PMT FV 7. James Heller borrowed $1,800 from his father to purchase a mountain bike. James paid back $2,600 to his father at the end of 4 years. What was the average annual compound rate of interest on James' loan from his father? N I/Y PV PMT FV 8. Harrison wants to double his money in 10 years. What annual rate of return must he find in an investment to reach his goal? N I/Y PV PMT FV 9. How many years will it take for $197,000 to grow to be $554,000 if it is invested in an account with a quoted annual interest rate of 8% with monthly compounding of interest? N I/Y PV PMT FV 10. Your father has $500,000 invested at 8%, and he now wants to retire. He wants to withdraw $50,000 at the end of each year. How many years will it take to exhaust his funds (run the account down to zero)? N I/Y PV PMT FV