You invest a sum of money at j4 = 3.75%. This fund will pay out $2,500 every three months for ever to support a financial literacy program. How much do you need to invest if the first payment is one year from now? Your Answer: Answer On his 32nd birthday, Jo invests $85 000 to fund a scholarship at the University of Victoria. The money is invested at ja = 8%. The first payment will be on Jo's 50th birthday. The first 20 annual payments will be $R, after which annual payments will be $2R. How much is the first payment? Your Answer: A bank advertises a "5-year fixed mortgage rate" of 2.88%. You take out a mortgage for $430 000 at this rate, with an amortization period of 25 years. What is your biweekly payment? Your