Please provide step by step solutions to these problems and not just the answer.

Only up to #23 is needed.

Math 342 16. Find the effective rate of interest corresponding to a nominal rate of 6%/year compounded 17. Find the present value of $41413 due in 5 years at an interest rate of 4.5%/year compounded 18. Find the payment R needed to amortize a loan of $22,000 at 3.5%/year compounded monthly 19. The manager of a money market fund has invested $4.2 million in CDs that pay interest at the quarterly quarterly with 36 monthly installments over a period of 3 years. rate of 5.4%/year compounded quarterly over a period of 5 years. How much will the investment be worth at the end of 5 years? 20. Andrew withdrew $5470.87 from a savings account which he closed this morning. The account had earned interest at the rate of 3%/year compounded continuously during the 3-year period that the money was on deposit. How much did Andrew originally deposit into the account? Chapter 6: 21. Maximize P-3x+5y subject to the constraints: 2x + 3y