7) Will a higher discount rate increase or decrease the present value, assuming the same time period in both cases? Why? (2 pts) 8) Ann buys a $300,000 house, with 20% down and a 6% annual interest rate and a 30 year mortgage. What are the approximate monthly payments? Please use both the table method and TVM Function on your TIBAll to compute your answer. (Hint: calculate annual payment and divide by 12) (6 pts) 9) A family spends $28,000 a year for living expenses. If prices increase by 4% a year for the next 3 years, what amount will the family need for their living expenses after 3 years? Please use the original formula to Kompute your answer (ie not the table method or the TIBAII TVM function). (2 pts) 10) You would like to have $1,000 5 years from now and believe you can earn 6% on your money. How much would you have to deposit today to reach your $1,000 goal? Please use the original formula method (ie not the table method and not the TIBAII TVM functions). (2 pts) 11) You are age 25. You invest $2000 a year each year until age 55 at 7% per year. How much money will you have generated towards retirement at age 55? Please use both the Table Method and the TIBAII TVM Function. (4 pts) 12) A stock you own increases from 15 to 20 over 3 years. What is the compound annual growth rate? (2 pts) Rele