Please answer #3

1) If $3,000 is loaned for 4 months at 4.5% annual ratc, how much interest is carried? 2) A loan of $7, 260 was repaid at the cud of 8 months. What size repayment check (principal and interest) was written, if an 8% annual rate of interest was charged? 3) What is the purchase price of a 50-day T-bill with a maturity value of $1,000 that carns an interest rate of 5.53%? Use a 360 day year. 4) A newborn child reccives a $20,000 gift toward a college education from her grandparents. How much will the $20,000 be worth in 17 years if it is invested at 7% compounded quarterly? 5) If an investment company pays 6% compounded semiannually, how much should you deposit now to have $10,000 10 years from now? 6) What is the APY for money invested at a. 10% compounded semiannually? b. 9% compounded continuously? 7) How long will it take $6,000 to grow to $8,600 if it is invested at 9.6% compounded continuously