Question 1:

A man aged 30 deposits $200 at the end of each month for 35 years into a registered retirement savings account fund paying interest at 6% compounded annually.

Starting on his 65th birthday, he makes 120 equal monthly withdrawals from the fund at the beginning of each month. During this period, the fund pays interest at 3% compounded annually. Calculate the amount of each withdrawal (annuity payment). A timeline may assist you in solving this calculation.

Question 2:

An annuity with payments at the end of each month pays $400 for 1 year, then $600 for the next 2 years, and then $500 for the following 2 years. Find the discounted value of these payments at the annual rate of 9%, compounded monthly.

Question 3:

Lucie has made quarterly deposits of $1,000 for 6 years into a savings fund paying an annual interest of 8%. What quarterly deposits for the next 2 years will bring the fund up to $50,000?