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PART 1 10 Marks Choose 2 of 3 Solve the following future value annuity questions a) For a pension plan, it is required to put

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PART 1 10 Marks Choose 2 of 3 Solve the following future value annuity questions a) For a pension plan, it is required to put in $250 every month into an account with a rate of 3.5%/a compounded monthly. How much is there after 18 years? b) Mark wants to set aside some money for his grandchildren to help pay for school, and decides to make quarterly deposits of $750 into an account with an interest rate of 4.4%/a compound quarterly How much money will be in the account in 25 years? c) Sarah wants to buy a brand new television in the future, so she deposits $50 weekly into an account with an interest rate of 1.3%/a compounded weekly. How much money will Sarah have in 5 years? PART 2 10 Marks Choose 2 of 3 Solve the following present value annuity questions a) How much will need to be in a pension plan which has an interest rate of 5% compounded quarterly if you want a payout of $1300 quarterly for the next 28 years? b) Carl hopes to be able to provide his grandkids with $500 a month for their first 10 years out of school to help pay off debts. How much should he invest now for this to be possible, if he chooses to invest his money into an account with an interest rate of 7.2%/a compounded monthly? C) After buying a state-of-the-art television, Jane makes an agreement with the store to pay $100 weekly for the next 4 years, financed at an interest rate of 10.4%/a compounded weekly, What is the cash value of the television right now? PART 3 10 Marks Calculate the monthly payment and complete the first three rows of an amortization table for each scenario a) The bank is offering a 25-year mortgage at an interest rate of 2.4%/a compounded monthly on a mortgage worth 5225000 Choose 1 of 2 b) A Cash-for Loan is offering a 20-year loan at an interest rate of 8.4%/a compounded monthly on a loan worth $50000

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