RequiredUsing the appropriate table solve each of the following:1. Hope Dearborn

RequiredUsing the appropriate table solve each of the following:1. Hope Dearborn invests $40000 on January 1 2007 in a savings account that earns interest of 8% compounded semiannually. What will be the amount in the fund on December 31 2012?2. Ben Johnson receives a bonus of $5000 each year on December 31. He starts depositing his bonus on December 31 2007 in a savings account that earns interest of 12% compounded annually. What will be the amount in the fund on December 31 2011 after he deposits his bonus received on that date?3. Ron Sewert owes $30000 on a non-interest-bearing note due January 1 2017. He offers to pay the amount on January 1 2007 provided that it is discounted at 10% on a compound annual discount basis. What would he have to pay on January 1 2007 under this assumption?4. June Stickney purchased an annuity on January 1 2007 which at a 12% annual rate would yield $6000 each June 30 and December 31 for the next six years. What was the cost of the annuity to Stickney?5. Five equal annual contributions are to be made to a fund the first deposit on December 31 2007. Determine the equal contributions that if invested at 10% compounded annually will produce a fund of $30000 on December 31 2012.6. Beginning on December 31 2008 six equal annual withdrawals are to be made. Determine the equal annual withdrawals if $11000 is invested at 10% interest compounded annually on December 31 2007.