Solve the following annuities, sinking funds and amortization.

(a) Lauren plans to deposit $3000 into a bank account at the beginning of next month and $200/month into the same account at the end of that month and at the end of each subsequent month for the next 3 years. If her bank pays interest at a rate of 7%/year compounded monthly, how much will Lauren have in her account at the end of 3 years? (Assume she makes no withdrawals during the 3-year period. Round your answer to the nearest cent.)

$________

(b) Andrea, a self-employed individual, wishes to accumulate a retirement fund of $550,000. How much should she deposit each month into her retirement account, which pays interest at a rate of 2.5%/year compounded monthly, to reach her goal upon retirement 30 years from now? (Round your answer to the nearest cent.)

$________

(c) The management of Gibraltar Brokerage Services anticipates a capital expenditure of $22,000 in 4 years for the purchase of new computers and has decided to set up a sinking fund to finance this purchase. If the fund earns interest at the rate of 3%/year compounded quarterly, determine the size of each (equal) quarterly installment that should be deposited in the fund. (Round your answer to the nearest cent.)

$________

(d) The management of Gibraltar Brokerage Services anticipates a capital expenditure of $22,000 in 4 years for the purchase of new computers and has decided to set up a sinking fund to finance this purchase. If the fund earns interest at the rate of 3%/year compounded quarterly, determine the size of each (equal) quarterly installment that should be deposited in the fund. (Round your answer to the nearest cent.)

$________

Sounds good, here is the question.

0-1.42 points TanFin10 5.2.020. 0/6 Submissions Used 2. My Notes The Pirerras are planning to go to Europe 4 years from now and have agreed to set aside $110/month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 8%/year compounded monthly, how much money will be in their travel fund at the end of the fourth year? (Round your answer to the nearest cent.)