Question: 1. If $100 earns 3% interest compounded annually, find the future value after 10 years? 2. Mr. West wishes to purchase a condominium for $240,000

1. If $100 earns 3% interest compounded annually, find the after 10 years?
2. Mr. West wishes to purchase a condominium for $240,000 cash upon his retirement 10 years from now. How much should he deposit at the end of each month into an paying 2.7% interest compounded monthly in order to accumulate the required savings?
3. The income of a typical family in a certain city is currently $39,216 per year. Family finance experts recommend that mortgage payments not exceed 25% of a family's income. Assuming a current mortgage interest rate of 4.2% compounded monthly for a 30-year mortgage with monthly payments, how large a mortgage can the typical family in that city afford?
4. Calculate the of $50 after a year if it is deposited at 2.19% compounded daily?

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