When Edwin was born, his grandparents started a savings account for him with a beginning balance of $300. Every month they deposited $25 into the account. The savings account paid an annual interest rate of 2.1%, compounded monthly.

Edwin just turned 21 and the balance of his account is now $8,375.55.

How much of the money in Edwin's account was earned in interest?

(Round your answer to the nearest cent.) ANSWER: ___________

The output of the following function is the future value of an account ifPV dollars are deposited,left for Y years at an annual rate of r, with n compounds per year.

FV=PV(1+rn)(nY)

Alonzo plans to put $5,500 dollars in an account that earns 4% interest compounded monthly. Use the formula to find Alonzo's account balance in5 years.

(Do not round until the final answer, then round your answer to the nearest dollar)ANSWER___________

Braxton used the Quantitative Reasoning Process to DO plan to pay off his credit cardloan of $3,540. The interest rate on his loanis 7.47% annually and he will be making monthly payments of $70.88 for 5 years. Complete Month 1 ofthe amortization table below.

What is Braxton'sEnding Balancefor Month 1? ANSWER___________

Viktor's online tractor sales business has been running its social media marketing campaign for 2 years.The marketingcompany predicted thatsales would increase by 10% per year. Viktorfound that theprediction has been close. His sales were $3.5 million per year when he started the campaign.

If the growth continues, he can model his future sales with the function

S(t)=3.5(1.1)tmillion

The annual sales,S,is a function oft, the total time in years that Viktor runs the campaign.If the company's prediction holds true, what will Viktor's annual sales be (in millions) after running the campaign for 5 years?

(Round your answer to 2 decimal places) ANSWER___________