Application Exercises Instructions You should review the topics discussed in the module to make this assignment. You must perform the following application exercises and demonstrate all the necessary procedure to arrive at the correct answer. To access the task, click here. Preview the documentView in a new window This assignment / assignment expires on the date set in the course calendar. Instructions: Review the topics discussed in the module for this assignment. You should do the following practice exercises and demonstrate all the necessary procedure to arrive at the correct answer. This activity has a total value of 21 points.Part I. Problem Solving: Solve each of the following problems by applying problem solving strategies.1.Ricardo opens a savings account at the beginning of the month with $ 955. During the month, Ricard made three deposits, one of $ 145 and two of $ 75 each. He had to make withdrawals for $ 28, $ 125, $ 240 and $ 380. If at the end of the month, the cooperative awarded you $ 17 in interest earned What is the balance that Ricardo will have in the savings account for the next? (3 points) 2. You have saved $ 60 to compare a mountain bike that costs $ 350. You decide to save $ 10 each week from your salary. How many weeks will it take to save money to buy the bike? (4 points) 3.Kiara has six dollars more than Yavier in her wallet. If Yavier has five dollars, how much money does Kiara have? (4 points) 4. Captain Julia Torres announces to her passengers that they fly to an altitude of 38,200 feet. It tells them that they will descend 3,575 feet to avoid an area of turbulence and will have to climb 3,920 feet once they are out of this area. At what altitude will the trip continue after leaving the turbulence area? (4 Points) 5. United States Social Security projects an employee contribution income and a benefit payment expense (in billions of dollars) according to the table here. Year Contribution income Benefit payment expense 2000 538 419 2010 926 750 2020 * 1,459 1,305 2030 * 2.081 2.547 A. What is the difference between the income from contributions and the expense for payment of benefits for each year? (3 points) B. What can be interpreted for the 2040s and 2050s? (3 points)