SECTION $6\mathrm{.}6$ PROBLEM SET: CLASSIFICATION OF FINANCE PROBLEMS Let the letters A$,$ B$,$ C$,$ D$,$ E and F be represented as follows: A $=$ FV of a lump$-$sum C $=$ FV of an annuity B $=$ PV of a lump$-$sum D $=$ Sinking fund payment E $=$ Installment payment F $=$ PV of an annuity Classify each by writing the appropriate letter in the box, and write an equation for solution$\mathrm{.}6)$ What lump$-$sum deposited in an account paying $7\%$ compounded daily will grow to $$10,000$ in $5$ years? $7)$ What amount of quarterly payments will amount to $$250,000$ in $5$ years at a rate of $8\%?8)$ The Chang family bought their house $25$ years ago. They had their loan financed for $30$ years at an interest rate of $11\%$ resulting in a payment of $$1350$ a month. Find the balance of the loan. $9-10)$ A $10-$year $$1000$ bond pays $$35$ every six months. If the current interest rate is $8\%,$ in order to find the fair market value of the bond, we need to find the following. $9)$ The present value of $$1000.10)$ The present value of the $$35$ per six month payments.