Question: just 3 and 4 please For the following problems do not work them out. Identify the type of problem each one is. 1. The Turners

 just 3 and 4 please For the following problems do not

just 3 and 4 please

For the following problems do not work them out. Identify the type of problem each one is. 1. The Turners have purchased a house for $150,000. They made an initial down payment of $30,000 and secured a mortgage with interest charged at the rate of 9% per year on the unpaid balance. What monthly payments will the Turners be required to make? a. Future Value with compound interest b. Present Value with compound interest c. Future Value of an Annuity d. Present Value of an Annuity e Sinking Fund f Amortization 2. A newborn child receives a $20,000 gift towards college education from her grandparents, How much will the $20,000 be worth in 17 years it is invested at 7% compounded quarterly? a. Future Value with compound interest b. Present Value with compound interest c. Future Value of an Annuity d. Present Value of an Annuity e. Sinking Fund f. Amortization 3. Parents want to setup an account for their child studying abroad for next 2 years, where they can receive a monthly allowance of $600. The account will be compounded 6.65% monthly How much should they deposit so their child could have the allowance? a Future Value with compound interest b. Present Value with compound interest c. Future Value of an Annuity d. Present Value of an Annuity e. Sinking Fund f. Amortization 4. Invest Sun is offering a rate that pays 6.15% compounded monthly. What monthly deposits should be made to have $100,000 in 10 years? a. Future Value with compound interest b. Present Value with compound interest c. Future Value of an Annuity d. Present Value of an Annuity e. Sinking Fund Amortization f hp

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