Draw Cash flow diagrams for each (except 4). 2 points for each answer, total of 22 points. 1. Determine the difference in interest earned on $5 000 for 15 years at 6% simple interest to that earned when the interest is compounded annually. 2. How much must be invested now to grow to $30 000 in seven years if the annual interest rate is 8.0% compounded (a) annually, (b) semiannually (c) monthl 3. Compute the unknown values for each of the following cash-flow diagrams (time shown in years and interest compounded annually) $10 $10 $10 $10 $10 P $3 000 i = 12% A AAAAA $100 $100 $100 $50 $50 01 i = 9% $5 000 i = 10% 4. Your real estate taxes are S3 600 per year with one-half due April 1 and the reminder due October 1 each year. What single sum of money must you place in an account earning 5.25% interest 15 months before the first payment is due in order to accumulate enough money to pay each tax bill? Assume monthly compounding) 5. You have just made an investment that will repay $976.12 at the end of each month, the first payment is one month from today and the last one is six years from today (thereby depleting the account)