Problem #2: What is the total future value (in 20 years) of the following cash flows: $10,000 invested today and an additional $25,000 invested after 6 years and 7 months? Use a rate of return of 1% (monthly).

6. Refer to your answer in Problem #2 - If I wanted to target a total future value of $500,000 (at the end of 20 years), what additional amount would I need to invest (on a constant monthly basis) throughout the entire period to achieve this goal in total? 7. If I have $25,000 to invest today, and an additional $500 to invest each month, how long will it take me to accumulate $1,000,000 assuming an annual rate of return of 5%? 8. If a Loan has a stated APR of 14.375%, what is its "Effective Interest Rate (EIR)" (assuming the rate compounds on a monthly basis)? 8a) How would this answer if interest compounding was only quarterly? Explain in a simple sentence "why" the rate EIR changes / what does this mean