Question: Please provide a explanation on how to get the answer for each question. For an investment of $100,000 at 9% interest for 7 years, find

Please provide a explanation on how to get the answer for each question.

  • For an investment of $100,000 at 9% interest for 7 years, find (a) the simple interest, and (b) the compound interest if interest is calculated once per year.

  • As part of his retirement planning, Mr. Gray purchases an annuity that pays 13.5% compounded quarterly. If the quarterly payment is $8000, how much will Mr. Gray have saved in 2 years?

  • A house sells for $300,000 and a 25% down payment is made. A 15-year mortgage at 8% was obtained.
  • (i) Find the down payment.
  • (ii) Find the amount of the mortgage.
  • (iii) Find the monthly payment.
  • (iv) Find the total interest paid.

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