7. If you wish to save $1,500,000 in four years, how much would you need to deposit at the start of each quarter to achieve this goal assuming an interest rate of 6% compounded quarterly? (4 marks) 8. What is the present value of an annual annuity payment of $15,000 made for 11 years with a discount rate of 7% and with the first payment starting today? (4 marks) 9. You expect to deposit the following cash flows at the end of years 1 through 5, $15,000, $12,000, $19,000, $23,000 and $18,000 respectively. What is the future account value at the end of year 8 if you can earn 9% compounded annually? (6 marks) 10. Assume that you can get a loan from NCB for $264,500 for three years to buy an item of your choosing. The loan must be repaid in 36 equal monthly payments. The annual interest rate on the loan is 12 percent of the unpaid balance. How large are the monthly payments? (4 marks)