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Please help me solving all of these question they are annuity as a geometric series Please make the writing clear to understand Show your work

Please help me solving all of these question they are annuity as a geometric series

Please make the writing clear to understand

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Show your work 1. Having just turned 16 years old, your friend has their mind set on buying a new car by the time they turn 20 years old. They can afford to save $440 per month. They place the money into an annuity that pays 5.5% per year, compounded monthly. How much will they have to spend on a car after 4 years? 2. You can afford to invest $150 per month in an annuity that earns 4% per year, compounded monthly. How long will it take before your investment is worth $6, 000? 3. You invested your summer earnings into an annuity from which you can draw expenses while you are at university. If you need to withdraw $1200 each month for 9 months of university, how much do you need to invest in an account, earning 6% per year, compounded monthly, in order to cover your expenses? 4. If $25, 000 is invested into an account paying 4.5% per year, compounded bi-monthly, how much money can be withdrawn from the account every two months for the next 6 years? Click on the Submit Your Work link below to access the rubric for this activity. Submit Your Work Before you move on to the next activity, take a few minutes to revisit the learning skills checklist and make sure you have mastered all of the skills outlined for this activity

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