Question 3 Scott invests $5,000 today into a retirement account. He expects to earn 9 percent a year, compounded quarterly, on his money for the next 30 years. After that, he wants to be more conservative, so only expects to earn 6 percent a year, compounded semi-annually. How much money will Scott have in his account when he retires 45 years from now, assuming this is the only deposit he makes into the account? Question 4 The Anderson Co. wants to borrow $5,000 at the beginning of each year for six years at an annual interest rate of 7 percent. The firm will repay this money in one lump sum at the end of year 6. How much of the firm's loan repayment (in percent) is due to the $5,000 it received in year 4? Question 5 Steven can afford car payments of $250 a month for 60 months. Assuming that the payment will be made at the end of each month. The bank will lend him this money at an interest of 6 percent a year, compounded monthly. How much can Steven borrow