Below are four separate and independent situations. Using present value and future value techniques, answer the questions asked. Round all dollar answers to the nearest whole dollar. On January 1, 2OX1, an individual deposited $3,000 in a special fund that will be compounded monthly. What will the balance in the fund be on December 31, 2.0X3, assuming the fund can earn an annual interest rate of 7.5%, compounded monthly? An individual owes a $50,000 debt which is due on January 1, 20X4, and decides to pay it off in three equal annual payments of principal plus interest each December 31. What is the amount of each of the equal annual payments if the annual interest rate is 9.75%? An individual will need $60,000 cash on December 31, 20X3. She decided to set up a special fund for this purpose by depositing a single amount on January 1, 20X1. The fund will earn an annual rate of 6.25%, compounded daily. What amount is required to be deposited to accomplish this? Assume a year of 365 days._ An individual will need $50,000 cash on December 31, 20X3, to retire bonds payable maturity. A bond sinking fund will be established by this individual by making three deposits into the fund on each December 31, starting in 20X1. What is the amount of of the equal annual deposits if the fund can earn 8% per annum