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Do not just give answer. Question 1 Calculate the present value for the annuity below. Regular Payment Rate of Compound Interest per Year 3% Compounding Period semi-annually Time $450 every 6 months 2.5 years Question 2 Gayle has money invested in an account. After 6 years, compounded monthly, she will have $6044.34 in her account, $1344.34 of which is earned interest. What is the interest rate of Gayle's account? Round your answer to two decimal places. Question 3 Joe borrowed $330 000 from the bank to purchase a house. If the bank charges 6.12%/a compounded monthly, he will take 30 years of monthly payments to pay off the loan. How much interest will he have paid over the term of the loan? Question 4 Carol invests $6500 at 4.4%/a compounded semiannually. What is the compounding period? Explain. Question 5 How much would you need to invest now at 3.8%/a compounded semiannually to provide $1500 every 6 months for the next 5 years? Question 6 Eli invests $2000 in two accounts. Account 1 2 Type of Interest simple compound Compounding Period N/A monthly Rate 6% 6% How long will it take Account 2 to be worth more than Account 1? Question 7 Stephen invests $40 000 at 4.4%/a compounded quarterly. He would like the money to grow to $100 000. How long will he have to wait? You may use the calculator athttp://www.zenwealth.com/businessfinanceonline/TVM/TVMCalculator.html. (Links to an external site.)Links to an external site.Make sure you include all the values you entered into the calculator. Question 8 Stefania's parents calculate that they will need $7500 every 3 months for 4 years to pay for Stefania's college. They have 18 years until she is college age. How much should they invest every 3 months at 6.4%/a compounded quarterly for the next 18 years if they plan to withdraw $7500 per quarter for the 4 years after that? Question 9 The future value of an account is $4849.14 in 5 years. If the rate of compound interest is 8.4%/a compounded quarterly, what is the principal investment? Question 10 Bridget wants to save $150 000, so she makes monthly payments of $250 into an account that earns 4.2%/a compounded monthly. How long will it take her to reach her goal? Use the calculator athttp://www.zenwealth.com/businessfinanceonline/TVM/TVMCalculator.html (Links to an external site.)Links to an external site.. Make sure you include all of the values that you entered into the calculator in your answer. Question 11 Ron borrowed $1800 to finance a computer at 15.6%/a compounded monthly for years. a) How much will his monthly payments be? b) How much more would Ron have to pay per month to pay the loan off 6 months early? c) How much interest would Ron save if he paid the loan off early? Question 125 pts Chloe buys a new refrigerator. She put $500 down and finances the remainder at 12.6%/a compounded monthly. Two years later, she paid $995.80 for the principal and interest. a) How much did the refrigerator originally cost? b) How much interest did she pay? c) How much more would she have paid if she had financed the whole amount? Justify your answers. Question 13 Denise borrowed some money at 9.6%/a compounded monthly. Two years later, she paid $2000 toward the principal and the interest. After another year, she paid another $2000. After another three years, she paid the remainder of the principal and the interest, which totaled $3000. How much money did she originally borrow? Justify the answer. Question 14 Kalil and Bob each pay $550 every 3 months into an account through work that compounds interest quarterly. Kalil's work gives him 5.6%/a and Bob's work gives him 5.2%/a. a) How much will Kalil and Bob have in their accounts in 20 years? b) How much more will Kalil earn in interest than Bob? c) Bob's work offers a dollarfordollar program, where they match an employee's investment in an account that pays 2.6%/a compounded quarterly. Which account should Bob choose? Explain your