SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 1) Calculate the accumulated value after ten years of payments of $1000.00 made at the end of 1) each quarter if interest is 4% compounded semi-annually. 1) 2) What is the future value of payments of $230.00 made at the end of every three months in twenty-one years if interest is 7.65% compounded annually? 2) 3) Conchita Martinez saves $17.25 at the end of each month and deposits the money in an 3) account, paying 4.96% compounded quarterly. a) How much will she accumulate in 22 years? b) How much of the accumulated amount is interest? 4) What is the accumulated value of deposits of $1120.00 made at the end of every six months 4) for three years if interest is 8.48% compounded quarterly? 5) What is the accumulated value after 11.25 years of monthly deposits of $415.00 earning interest at 5.56% compounded semi-annually if the deposits are made at the end of each 5) month? 6) What is the principal from which $2279.00 can be withdrawn at the end of each month for 6) 17.5 years if interest is 5.44% compounded quarterly? 7) A real estate developer bought land for $170000.00 down and monthly payments of $10 7) 450.00 for 5 years. What is the equivalent cash price if money is worth 7.75% compounded semi-annually? 8) If a student loan was repaid by monthly payments of $800.00 in 5.0 years at 8.00% 8) compounded yearly, how much interest was paid? 9) For her daughter's university education, Carla Hackl has invested an inheritance in a fund paying 9.2% compounded quarterly. If ordinary annuity payments of $4750.00 per month are to be made out of the fund for 5 years and the annuity begins 7.75 years from now, how much was the inheritance? 10) You won $150000.00 in a lottery and you want to set some of that sum of money aside for 6 years. After 6 years you would like to receive $2710.00 at the end of every 6 months for 8 years. If interest is 6% compounded quarterly, how much of your winnings must you set aside? 11) Kelsey bought a car priced at $19700.00 for 10% down and equal monthly payments for 4.5 11) years. If interest is 8.22% compounded semi-annually, what is the size of the monthly payment? 12) Edward Martin borrowed $15810.00 from his uncle to finance his graduate studies. The 12) loan agreement calls for equal payments at the end of each month for 6 years. The payments are deferred for 3 years and interest is 8.12% compounded semi-annually. What is the size of the monthly payments? 13) A mortgage of $198000.00 is to be amortized by payments over 22.5 years. If the payments 13) are made at the end of each month and interest is 8.75% compounded semi-annually, what is the size of the monthly payments? 14) Sean Paul borrowed $20000.00 from his father to finance his new business. The loan 14) agreement calls for equal payments at the end of each month for 10 years. The payments are deferred for 4 years and interest is 4.00% compounded semi-annually. What is the size of the monthly payments? 15) Ali saves $25.00 at the end of each month and deposits the money in a savings account, 15) paying 3.00% compounded semi-annually. a) How much will she accumulate in 20 years? b) How much of the accumulated amount is interest