+ 10 5. Assume that you are saving for a trip to several countries that you and three of your college friends are planning to take 5 years after graduation. You want to save $15.000 for the trip. Assume that you will make deposits at the end of each quarter for 5 years in an investment that eams 8% compounded quwtorly. How much must you invest each quarter to reach your goal? Show your calculation 6. Assume Ting is planning to buy a house in the futuro. On January 1, 2021. assume Ting made a New Year's resolution to start saving money for a down payment on a house Ting will make a deposit into an investment at the end of each year starting December 31, 2021. This investment pays 6% interest annually. Ting would like to accumulate $40,000 for a down payment by the end of 5 years. How much does Ting need to put into the investment each year to reach her goal? Show your calculation 7. Jeff invested $8,000 at 6%. Use the Rule of 72 to determine approximately how long it will take his investment to double. Show your calculation