Question 1 of 7 How much should Gabrielle's dad invest into a savings account today, to be able to pay for Gabrielle's rent for the next three years if rent is $900 payable at the beginning of each month? The savings account earns 3.25% compounded monthly. Round to the nearest cent Question 2 of 7 Gabrielle invested $1,025 at the end of every month into an investment fund that was earning interest at 3.25% compounded monthly. She stopped making regular deposits at the end of 6 years when the interest rate changed to 3.50% compounded quarterly. However, she let the money grow in this investment fund for the next 4 years. a. Calculate the accumulated balance in her investment fund at the end of 6 years. Question 2 of 7 b. Calculate the accumulated balance in her investment fund at the end of 10 years. Round to the nearest cent c. Calculate the amount of interest earned over the 10-year period. Question 3 of 7 Molly received a loan of $26,000 at 5.5% compounded semi-annually. She had to make payments at the end of every half-year for a period of 5 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent Question 3 of 7 b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number Payment Interest Portion Principal Portion Principal Balance O EZ $26,000.00 Question 4 of 7 Tyler received a loan of $23,000 at 6.75% compounded monthly. She had to make payments at the end of every month for a period of 4 years to settle the loan. a. Calculate the size of payments. Round to the nearest cent Question 4 of 7 b. Complete the partial amortization schedule, rounding the answers to the nearest cent. Payment Number Payment Interest Portion Principal Portion Principal Balance $23,000.00 0 Question 5 of 7 A design studio received a loan of $4,900 at 4.30% compounded semi-annually to purchase a camera and settled the loan in 3 years by making quarterly payments. a. What was the size of the payments? 2 O $467.62 Question 5 of 7 b. What was the interest portion on the first payment? O $52.39 O $105.35 O $0.56 O $1.13 > Question 5 of 7 c. What was the balance of the loan at end of the first year? O $3,528.89 O $3,335.63 O $1,321.06 O $4,900.02 K Question 5 of 7 d. What was the interest portion on the last payment? O $9.30 O $52.39 O $4.63 O $51.84 Question 6 of 7 years months Express the answer in years and months, rounded to the next payment period C. If the monthly payments were set at $1,063, calculate the size of the final payment. Round to the nearest cent > R Question 7 of 7 A mortgage for a condominium had a principal balance of $43,700 that had to be amortized over the remaining period of 5 years. The interest rate was fixed at 3.62% compounded semi-annually and payments were made monthly. a. Calculate the size of the payments, rounded up to the next whole number. 2 O $797 K Question 7 of 7 Calculate the size of the payments, rounded up to the next whole number. $797 $1,200 $785 $810 Question 7 of 7 b. If the monthly payments were set at $897, by how much would the time period of the mortgage shorten? O O years and 7 months / O 1 years and 8 months O 3 years and 6 months O 4 years and 8 months F Question 7 of 7 c. If the monthly payments were set at $897, calculate the size of the final payment. O $1,557.58 O $235.15 2 O $662.55 O $35,296.96