$7.$you are planning to make monthly deposits of

$$160$ into a retirement account that pays $9$

percent interest compounded monthly. If your

first deposit will be made one month from now,

how large will your retirement account be in $24$

years?

$8.$you're prepared to make monthly payments of

$$320,$ beginning at the end of this month, into an

account that pays $9$ percent interest

compounded monthly. How many payments will

you have made when your account balance

reaches $$22,655?$

$9.$ Suppose you are going to receive $$8,000$ per year for $7$ years. The appropriate interest rate is $9$

percent. What is the present value of the payments if they are in the form of an ordinary annuity?

What is the present value if the payments are an annuity due?

$10.$ You want to buy new sports car from Muscle Motors for $$34,000.$ The contract is in the form of

an annuity due for $60$ months at an APR of $9\mathrm{.}00$ percent. What will your monthly payment be$?$