Please answer all 5 parts of this question (A-E). Thanks!

Directions: Assume that interest rates are given annual and payments are made monthly. Round your answers to 2 decimal places.

a) If you purchase a parcel of land today for $50,000 and you expect it to appreciate 10 percent per year in value, how much will your land be worth 10 years from now?

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b) Jeremy invests $2,500 at the end of each year in an investment which pays 9 percent interest compounded annually for seven years. What is the expected value of that investment in seven years?

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c) What is the balance on a 30-year fixed loan of $370,000 at 4.5% annual interest rate after 10 years?

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d) What is the mortgage payment on a $1.5 million 30-year mortgage at 5.55% interest?

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e) Assume $7,000 is invested for 10 years. The annual interest rate is 6%, compounded quarterly. What is the expected value of the investment in 10 years?

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