A) You are excited to buy your first house. Based on your credit history, the bank is willing to lend you money at 8 percent interest compounded monthly. You can afford monthly payments of $800. How much can you afford to borrow? Assume the mortgage is for 20 years.

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B) You currently have $20000.00 in a bank account that pays you 5 percent interest annually. You plan to deposit $800 (starting 1 year from now) every year for the next 10 years in the same account. How much are you going to have in that account at the end of 10 years?

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C)You currently have $20000.00 in a bank account that pays you 5 percent interest annually. You plan to withdraw$800 (starting 1 year from now) every year for the next 10 years in the same account. How much are you going to have in that account at the end of 10 years?

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D) You currently have $39471.00 in an account that pays 5 percent interest. You plan to deposit in this account $3581 at the end of each year until the account reaches $124578. How long would that take? Enter your answer in 4 decimals (e.g. 5.1234).

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