Compound interest 1) Find the principal that will accumulate to $6000 in fifteen years at 5% compounded monthly. 2) A debt of $7000 due today is to be settled by three equal payments due 3 months from now, 15 months from now and 27 months form now, respectively. What is the size of the equal payments at 11% compounded quarterly? Annuities 1. Payments of $360 are made into a fund at the end of each quarter for 12 years. The fund earns 6% compounded quarterly? a) What will be the balance in the fund after 12 years? b) How much of the balance is deposits? c) How much of the balance is interest