1. You vow to save $300/month for the next six months, with your first deposit one month from today. If your savings can earn 6% converted monthly, determine the total in your account six months from now.2. You decide to save $200/month for the next ten years. If you invest all of these savings in an account which will pay you 12 % compounded monthly, determine: a) the total in the account ten years b) the amount you deposited c) the amount of interest earned3. You overhear your friend saying the he is repaying a loan at $500 every month for the next 10 months. The interest rate he has been charged is 12% compounded semiannually. Calculate the amount of the loan, and the amount of interest involved.4. You have received two offers on a building lot that you want to sell. Ms. Armstrongs offer is $50,000 down plus a $100,000 lump sum payment, 5 % compounded annually five years from now. Mr. Belcher has offered $50,000 down plus $5000 every quarter for five years, 5% compounded quarterly. Compare the economic values of the two offers. Which is the better offer?