Question

Please answer all If you can't answer all then please don't answer just one question. i need all

2. You would like to buy a house in in 16 years and estimate that you will need a deposit of $73,014. You plan to make bi-weekly deposits into an account that you hope will earn 7.05%. How much do you have to deposit every two weeks?
3. You have accumulated $1,085.55 in debt by buying things on Amazon during quarantine.  The minimum monthly payment is $24.87, If you make only the minimum payment, it will take you 65 months to pay it off. If you pay $10 more per month, you will pay it off in 36 months.  How much total interest will you save?
4. Your best friend opened an investment account with a deposit of $185 today. They will continue to deposits every two weeks into an account that they hope will earn an interest rate of 8.48% per year. How much will they have in 5 years?
5. Your grandmother invested in an annuity to help fund her retirement.  She will receive monthly payments of  $4,532 over 18 years and she will receive her first payment today. If the appropriate discount rate is 4.61%, how much is the the annuity worth today?

Answer 1

2]	The deposit of $73014 is the FV of the biweekly payments,
	the biweekly payments constituting an annuity.
	So, 73014 = A*((1+0.0705/52)^(16*52)-1)/(0.0705/52) =
	where A = the biweekly deposit.
	[The formula used above is the formula for finding PV of
	annuity]
	So, A = 73014*(0.0705/52)/((1+0.0705/52)^(16*52)-1) =	$ 47.43
3]	Total amount paid at $24.87 per month = 24.87*65 =	$           1,616.55
	Total amount paid at $34.87 per month = 34.87*36 =	$           1,255.32
	Total interest saved = 1616.55-1255.32 =	$              361.23
4]	Here what is to be found out is the FV of the annuity due.
	FV = 185*((1+0.0848/52)^(5*52)-1)*(1+0.0848/52)/(0.0848/52) =	$ 59,942.84
5]	The monthly annuities are an annuity due. The worth is the PV
	of this annuity.
	Worth of the annuity today = 4532*((1+0.0461/12)^216-1)*(1+0.0461/12)/((0.0461/12)*(1+0.0461/12)^216) =	$ 666,921.33