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1. Tim wants to have $60,000 in 6 years. If an investment pays 2.75% compounded monthly, how much would Tim have to deposit?
2. John borrows $300 for 5 years at a simple interest rate of 8% . How much interest must he pay? What is the total amount that must be repaid?
3. You purchase a quad for $8500 and the bank charges you 15% interest compounded monthly on this amount. Determine your monthly payments if the loan is repaid over 3 years.
4. Trevor invests $5000 in a term deposit that pays 6.6% per year, compounded semi-annually. How long will it take for his investment to double in value?
5. What is the future value in 10 years of $1,500 payments received at the end of each year for the next 10 years? Assume an interest rate of 9%.
   1. What is the effective rate for 8% if a.) compounded annually; b.) compounded semi-annually; and c.) compounded quarterly.
   2. How much interest will $400 earn in 9 months at a simple interest rate of 4%?