An installment contract for the purchase of a computer requires payments of $30.00 at the end of each month for the next three years. Suppose interest is 18.00% p.a. compounded monthly. a) What is the amount financed? b) How much is the interest cost? 4) Annette bought a vacation property for $22900.00 down and quarterly mortgage payments of $1224.51 at the end of each quarter for six years. Interest is 8.4% compounded quarterly. a) What was the purchase price of the property? b) How much interest will Annette pay? 5) The Fax family bought a rental property valued at $125 000.00 by paying 25% down and mortgaging the balance over 21.5 years through equal payments at the end of each quarter at 8.6% compounded quarterly. What was the size of the quarterly payments? 6) How many semi-annually payments will it take for $500.00 deposited at the end of each half year to amount to $10000.00 at 6% compounded semi-annually? Round to the nearest full payment. 7) A student bought a rental property for $40 000.00 down and monthly payments of $1000.00 for 5 years. What is the equivalent cash price if money is worth 5.75% compounded semi-annually? 8) How much must be deposited at the end of each month for 10 years to accumulate to $100 000.00 at 6.00% compounded yearly? 9) Flin Flon Aqua Club bought swimming equipment on a contract requiring monthly payments of $815.50 for 4 years beginning 11 months after the date of purchase. What was the cash value of the equipment if interest is 7.8% compounded monthly? 10) A sum of $15700.00 is invested at 6.48% compounded semi-annually for eight years. After the eight years, the balance in the fund is converted into an annuity paying equal payments at the end of every 6 months for 5.5 years. If interest on the annuity is 7.95% compounded monthly, what is the size of the equal payments?