Question 1.
Mike deposits $3869 at the end of each year into an account paying a nominal annual interest rate of 1% compounded monthly. How much does she have in the account at the end of 16 years?

Question 2.
Peter Motors helped a subcontracting company. Peter is willing to give the vendor some time before repaying the loan. The vendor will start making payments of $32641 at the end of year 9, decreasing the payment amount by 17% each year. The vendor will make a total of 7 payments (end of each year).
The company is thinking of selling the loan to another party and needs to know how much the future loan payments are worth today. Use a nominal annual interest rate of 10%, compounded monthly.

Question 3.
Mike has $815715 in an account that pays a nominal annual interest rate of 9%, compounded quarterly. If Mike plans to take a quarterly distribution for the next 17 years, how much could he withdraw each quarter?

Question 4
Chechnia deposits $12071 every six months, increasing the amount deposited by 2.5% with each subsequent deposit. The account pays a nominal annual interest rate of 5%, compounded biannually. How much will Chechnia have in the account at the end of 23 years?

Question 5.
The city of Suburbia received a proposal for plant watering from Water Can Gardening Company. The company would water all city plants for $634 each quarter, increasing the amount charged by $12 each subsequent quarter. Water Can Gardening Company requires a 9-year commitment.
The mayor has asked you to calculate the equivalent uniform quarterly cost for the plant water service to help with budgeting. Use a nominal annual interest rate of 7%, compounded quarterly, to make the calculation

Question 6.
Chugington, Inc. is doing some financial planning. The company currently has $34902 in its account, and it knows it will need to make a withdrawal of $32529 in 12 years to pay for an equipment upgrade. The company anticipates depositing $7479 at the end of year 7 from a project. The company will also need to make another large withdrawal of $3162 at the end of year 2 to pay off a loan. How much could Chugington spend on a remodel of the factory floor today and still meet all of its future financial obligations? Assume an interest rate of 3% compounded annually.

Question 1. Mike deposits $3869 at the end of each year into an ac...