Home Task 1 Payment for Work Situation: You performed a certain work to be paid in two years. The total amount due to you in two years is $2,000. The bank interest is 15% annual for the first year and 10% for the second year. Question: How much you have to be paid now if the payment comes today rather than in two years? Home Task 2 Payment on Financing Situation: Pacific Furniture, Inc. borrowed $100,000 for five years at 6% annual interest payable twice per year including 10% of the total borrowed amount in each payment. Questions: Please develop the payment schedule including interest, principal balance and payment. How much total will Pacific Furniture, Inc. pay to the bank at the end of the fifth year? How much interest will Pacific Furniture, Inc. totally pay to the bank for the five years? Home Task 3 Payment on Financing Situation: Gert Communication, Inc. purchased a new equipment for $200,000. Gert Communication, Inc. paid $50,000 for the equipment in cash and took financing for 3 years at 15% annual interest. Gert Communication, Inc. will pay off the financing in three equal installments by the end of each year. Questions: What amount Gert Communication, Inc. should pay in every installment for the equipment? What is the total amount Gert Communication, Inc. will pay for the equipment? Please ignore taxes and other additional charges. Home Task 4 Annuity Payments Situation: Star Enterprises borrowed $1M (one million dollars) for two years at 19% annual interest payable semiannually with six month compounding period. Questions: Please develop the payment schedule including balance, interest, principal, and total payment in each installment. What amount will Star Enterprises pay in every payment on the borrowed money? What total amount will Star Enterprises will pay for the borrowed money?