nedd help with 1 and 2

2.3 Problems 1. You take out a loan to purchase a truck. The amount of the loan is $12,000, with the understanding that you will repay over 30 months at an interest rate of 1.25% per month. a) Find the amount of each monthly payment. b) How much of the principal will you have paid after completing twelve payments? 2. You expect that the operating costs for your new truck will be as follows: Year one -- $700; Year two -- $1000; Year three -- $1500; Year four -- $1800; Year five -- $2500. Draw a cash flow diagram for this series of expenses, assuming the end-of-year convention. Find the present worth of this series. Find the equivalent annual cost over five years of the five costs. Use an i-7%. 3. How much will a series of ten semi-annual $1000 payments compound to, six months after the last payment, if interest is six percent per year, compounded semi-annually? 4. How much will a semi-annual gradient series, that begins at $500 and increases by $100 to $1400, compound to, six months after the last payment, if interest is six percent per year, compounded semi-annually? 5. What single amount would you need to place in a fund now in order to have $7500 six years from now, if the fund earns 8%, compounded quarterly? 6. Answer question 5 if the fund earns 4%, compounded quarterly 7. Answer amestion 5 if the finnd.cams 8h compounded ammually