Enter Answers Correct Answers 2 points Each Question (10 Points Total) Q1) You invest $3,393 at the beginning of every year and your friend invests $3,393 at the end of every year. If you both earn an annual rate of return of 06.00%. a) how much will you have in your account after 35 years? b) How much will your friend have in his account? Q2) You currently have $1,761 in a retirement savings account that eams an annual return of 10.00%. You want to retire in 39 years with $1,000,000. How much more do you need to save at the end of every year to reach your retirement goal? Q3) You currently owe $4,571 to your credit card that charges an annual interest rate of 16.00%. You make $139 of new charges every month and make a payment of $193 every month. What will your credit card balance be in three months? Q4) You would like to retire in 37 years. The expected rate of inflation is 02.00% per year. You currently have a standard of living that requires $7,374 of monthly expenses. Assuming you want to maintain the same standard of living in retirement, what are your monthly expenses expected to be the first year of retirement? Q5) You purchases a house for $321,160. You made a down payment of $20,000 and the remainder of the purchase price was financed with a mortgage loan. The mortgage loan is a 30 year mortgage with an annual interest rate of 07.00%. Mortgage payments are made monthly. What is the monthly amount of your mortgage payment? Below Below FIRST NAME INSTRUCTIONS LAST NAME When inputting an answer, round your answer to the nearest 2 decimal places. If you need to use a calculated number for further calculations, DO NOT round until after all calculations have been completed. For the final answer, Round to 2 decimal places.