Question $1$: Calculate the monthly payments on a $15-$year loan for $$200,000.$ The loan has an interest rate of $4\mathrm{.}5\%,$ and the bank uses monthly compounding.

Question $2$: Your daughter is planning to go to OU in $3$ years after she graduates high school. You estimate that she will need $$10,000$ per semester for her four years at OU$.$ Assuming a discount rate of $4\%,$ also assume that she with draws $10,000$ for the account $($which earns interest$)$ every six months while in college. First, calculate the amount of money that you will need to have saved by the time she graduates high school. Next, assume you have $15,000$ dollar saved today for her education, how much would you need to save each month to reach your goal $($again assume the interest rate is $4\%).$

Question $3$: You just got a loan for $$15,000$ and you plan to pay it off in three years. Your monthly payments are $$500$ each. What is the interest rate that the bank is charging you? What if you did bimonthly payments of $$250?$ How much sooner will the loan be paid off?

Question $4$: You plan to retire in $25$ years and you want to receive $$7,000$ per month for the remainder of your life $(35$ years in retirement$).$ The first payment is received the day you retire. Assuming a constant $3\mathrm{.}5\%$ interest $($compunded monthly$),$ how kuhc momey will you need on the day you retire? Lets assume you have $$35,000$ saved for retirement today, how much will you need to put away each month to reach your goal?