Identify the interest rate per period i and the number $n$ of interest periods for each interest schedule.

$8\%$ compounded monthly for $6$ years

$5\mathrm{.}25\%$ compounded quarterly for $10$ years

$3\mathrm{.}1\%$ compounded monthly for $20$ years

Identify the future value $S,$ the regular payment $R,$ the interest rate per period $i,$ and the number of periods $n$ for each

of the following annuity examples.

Starting with the birth of their child, a family

sets aside $$400$ each year in a college fund. If

the account earns $5\%$ interest each year, it

will be worth $$11,253$ when the child is $18.$

A student deposits $$150$ each month in an

account that earns $3\%$ interest. After $6$ years,

the account is worth $$11,817.$

A company establishes a sinking fund to cover planned maintenance, budgeting for $$50,000$ in $10$

years. This fund will require payments of $$1018$ each quarter in an account that earns $4\mathrm{.}1\%$

interest.