Question: #3 the answer $4,932.83 is provided. I need the step by step work that shows how we got this answer. Excel and financial calculators are

#3 the answer $4,932.83 is provided. I need the step by

#3 the answer $4,932.83 is provided. I need the step by step work that shows how we got this answer. Excel and financial calculators are not allowed.

Thank you!

3. Fifteen annual payments of $600 will be made to settle a loan beginning one year from now. If the interest rate on the loan was 8.4% compounded quarterly, determine the amount of the loan. ($4932.58) 4. To save for a new bike, a child places $25 at the beginning of each month into an account which earns 7.6% compounded quarterly. Determine the balance in three years. Simple interest is paid for part of a period. 5. To go on a cruise a couple needs $4000 by January 1, 2021. Beginning on January 1, 2016 and ending on January 1, 2021 they will make quarterly deposits into an account which earns 10.5% annually. Determine the size of the payments. ($146.72)

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