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I NEED ABSOLUTELY CORRECT ANSWERS FOR THESE.

0.5 pts Question 3 Violet deposits $7,073 at the end of each year into an account paying a nominal annual interest rate of 8% compounded monthly. How much does Violet have in the account at the end of 11 years? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ("') or a decimal point (".") 0.5 pts Question 4 Paisley Motors helped out a vendor by lending them money to upgrade their supply chain. Paisley is willing to give the vendor some time before repaying the loan. The vendor will start making payments of $33,060 at the end of year 9, decreasing the payment amount by 22% each subsequent year. The vendor will make a total of 6 payments (one at the end of each year) The company is thinking of selling the loan to a third party and needs to know how much the future loan payments are worth today. Use a nominal annual interest rate of 6%, compounded monthly to make the calculation Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ("") or a decimal point ("")

Answer 1

3)

Future value Px[(1+r)^n-1]=r Here, =(1+8%/12)^12-1 8.30% 11 A Interest rate per annum B Number of years C Number of payments per per annum A:C Interest rate per period (r) BxC Number of periods (n) Payment per period (P) 8.30% 11 7,073 Future value 119634 7073x((1+8.3%)^11-1):8.3%

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