In order to save for your retirement, you want to save $10,000 every year for 20 years, starting one year from now. The annual interest rate on your savings account is 8%. Part 1 Attempt 1/10 for 10 pts. How much money will you have in your account in 20 years? Webster Mining is considering the purchase of a new sorting machine. The quote consists of quarterly payments of $19,000 for 6 years at an annual interest rate of 6% (APR with quarterly compounding). Part 1 Attempt 1/10 for 10 pts. If the first payment begins one quarter after date of purchase. What is the purchase price of the equipment? "What if the first payment begins one year after the date of purchase? --for this question, go to TVM II (BONUS). In order to save for your child's college education, you want to save $200 every month for 15 years, starting one month from now. The monthly interest rate on your savings account is 0.3%. Part 1 Attempt 1/10 for 10 pts. How much money will you have in your account in 15 years? You want to buy a house financed with a 30 -year fixed-rate mortgage. The best monthly interest rate you could find is 0.4%. Part 1 II 1 1 Attempt 1/10 for 10 pts. What is the most you can borrow if you can only afford to pay $2,000 per month