How much interest are you saving if you pay off a loan early with the following information? The annual payment is $700, the loan balance you are to pay off is $3,236, the annual interest rate is 8%, and there are 6 annual payments remaining.

1. $2,536 2. $964 3. $3,236

You plan to have $20,000 by saving the same amount every year for 5 years. How much do you have to save every year if you can earn 6% annual interest rate on your savings?

1. $4,000 2. $3,548 3. $4,748 4.$14,945

You just deposited $10,000 today in a bank saving account earning 6% a year. How much can you withdraw (the same amount) from the account at the end of every 6 months for the next 3 years, assuming the 8% interest rate compounds semiannually?

Group of answer choices

1.$1,846 2.$3,741 3.$3,333 4.$1,667

What is the future value of a 3-year annuity with semiannual payments of $200 if the interest rate is 8%?

1.$1,048 2.$1,200 3.$1,031 4.$1,327