$1.$Mr$.$ Bean wants to borrow $$9,000$ for three years. The interest rate is $7\mathrm{.}0\%$ compounded monthly.

a$.$ What quarterly payments are required on the loan? $($Do not round intermediate calculations and round your final answer to $2$ decimal places.$)$

PMT $

b$.$ What will be the balance owed on the loan at the start of the third year? $($Round PMT calculation to $2$ decimal places. Do not round other intermediate calculations and round your final answer to $2$ decimal places.$)$

Balance owed $

$2.$How long will $$580,000,$ in an investment account that earns $4\mathrm{.}45\%$ compounded monthly, sustain month$-$end withdrawals of $$4,200?($Do not round intermediate calculations and round up the number of payments, n$,$ to the next whole number.$)$

year$($s$)$ and

month$($s$).$

$3.$How long will it take an RRSP to grow to $$830,000$ if it takes in month$-$end contribution of $$1,300$ and earns: $($Do not round intermediate calculations. Round up the number of contributions to the next integer.$)$

a$.5\mathrm{.}3\%$ compounded monthly?

years,

month$($s$)$

b$.7\mathrm{.}6\%$ compounded monthly?

years,

month$($s$)$

c$.9\mathrm{.}5\%$ compounded monthly?

years,

month$($s$)$

d$.10\mathrm{.}3\%$ compounded monthly?

years,

month$($s$)$

$4.$If TFSA contributions of $$7600$ at the end of every year are projected to generate a plan worth $$2,200,000$ in $35$ years, what effective rate of return was assumed in the forecast? $($Round your answer to $2$ decimal places.$)$

Effective rate of return

$\%$