7. Your employer has agreed to make 80 quarterly payments of $400 each into a trust account to fund your early retirement. The first payment will be made 3 months from now. At the end of 20 years (80 payments), you will be paid 10 equal annual payments, with the first payment to be made at the beginning of Year 21 (or the end of Year 20). The funds will be invested at a nominal rate of 8 percent, quarterly compounding, during both the accumulation and the distribution periods. How large will each of your 10 receipts be? (Hint: You must find the EAR and use it in one of your calculations.) 8. Amir has obtained a $100,000 mortgage. The mortgage is amortized over 10 years. The mortgage interest rate is 10% compounded quarterly. Amir will begin making payments at the beginning of the payment. a. Calculate the effective semiannual rate b. What is the semiannual installment payment? c. Calculate the how much Amir owe after 2 years? d. Calculate the interest amount to be paid on 5h installment payment? e. Calculate the principal amount to be paid 5th installment payment