Find what is required in each problem with the formula and step
1) a- Discount $87,500 for 5 years and 3 months at 8% compounded quarterly
b- 9% Compounded monthly
2) Jacob father deposits $4,000 at the end of 3 months in a fund paying 10% interest, compounded quarterly. What amount will the fund contain just after Jacob is 18 years old, if the first deposit was made when he was 6 years old?
3) Find the amount of an annuity of $25,0000 a month for 15 years at 8%, compounded monthly.