QUESTION 1 Suppose you receive $500 for graduation from college. You deposit this amount in a bank savings account that earns 1% per year, compounded monthly. If you do not make any additional deposits or withdrawals, how much will the account be worth 20 years later? Round your answer to 2 decimal places. QUESTION 2 You have $0 savings. You decide to buy mutual fund shares with $250 at the end of each month for the next 5 years. The mutual fund has an average annual return of 8%. How much money do you expect to have at the end of year 5? Round your answer to 2 decimal places. Hint your answer should be a positive number QUESTION 3 You want to buy a $180,000 house with a conventional mortgage. You will need 20% of your own cash, and will borrow 80% of the cost. A bank is offering a 30 year fixed-rate conventional mortgage at 4% per year. What is your monthly loan payment? Round your answer to 2 decimal places. QUESTION 4 For an annual interest rate of 10% and semiannual compounding, the periodic rate is