QUESTION 2. SOLVE: PV=$15,343; n=94; i=0.012; PMT=?;

PMT=$____ (Round to two decimal places.)

QUESTION 3. Use the formula for the present value of an ordinary annuity or the amortization formula to solve the following problem. PV= $14,000; i=0.025; PMT=$500; n=?

n=____________

(Round up to the nearest integer.)

QUESTION4:

Acme Annuities recently offered an annuity that pays 3.9% compounded monthly. What equal monthly deposit should be made into this annuity in order to have $81,000 in 8 years?

The amount of each deposit should be

$_______. ROUND TO NEAREST CENT