Assume that you borrowed 300,000 from ABC Bank to purchase a house and agreed to pay the loan in monthly installments over next 30 years (total 360 payments). The mortgage rate is 8% compounded daily and you make payments each month starting end of first month from the date you borrow the money. Assume 360 days per year and use at least four decimal places in all calculations (for example 1.2345% or $1.2345). The amount of principal (installment amount - interest in that payment) paid in your 125th payment is:

		between $460.0 - $462.5
		Less than $455.0 OR more than $465.0
		between $457.5 - $460.0
		between $455.0 - $457.5
		between $462.5 - $465.0

1. Determine the two equal deposits (the first deposit required at the end of year 2 and the second deposit at the end of year 6) so that you can withdraw $5,000 at the end of each year for the next 8 years (year 1 through 8). Assume that money can earn 10% interest, compounded annually.

   		between $19,171 and $19,175
   		between $19,181 and $19,185
   		All the other answers are incorrect.
   		between $19,176 and $19,180
   		between $19,995 and $20,000