Question: i need help with this 5 questions asap please make sure the answers are correct. 1. How much should Vanessa's dad invest in a savings
1. How much should Vanessa's dad invest in a savings account today, to be able to pay for Vanessa's rent for the next three years, if the rent is $700, payable at the beginning of each month? The savings account earns 2.07% compounded monthly. Round to the nearest cent 2. What is the accumulated value of periodic deposits of $30 at the beginning of every quarter for 22 years if the interest rate is 3.48% compounded quarterly? Round to the nearest cent 3. Calculate the maturity value of end-of-month payments of $2,000 made at 6.65% compounded quarterly for 7 years. Round to the nearest cent 4. Falco Inc. financed the purchase of a machine with a loan at 3.18% compounded monthly. This loan will be settled by making payments of $7,100 at the end of every month for 7 years. a. What was the principal balance of the loan? Round to the nearest cent b. What was the total amount of interest charged? Round to the nearest cent 5. Derek contributed $900 at the end of every 3 months into an RRSP fund earning 2.81% compounded quarterly for 15 years. a. What is the future value of the fund at the end of 15 years? Round to the nearest cent b. What is the amount of interest earned over this period? Round to the nearest cent
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