When Reuben had 4 years left in college, he took out a student loan for \( \$ 14,215 \). The loan has an annual interest rate of \( 5.4 \% \). Reuben graduated 4 years after acquiring the loan and began repaying the loan immediately upon graduation. According to the terms of the loan, Reuben will make monthly payments for 3 years after graduation. During the 4 years he was in school and not making payments, the loan accrued simple interest. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) If Reuben's loan is subsidized, find his monthly payment. Subsidized loan monthly payment: \( \$ \) D Reuben's loan is unsubsidized, find his monthly payment.

What lump sum must be invested at \( 8 \% \), compounded monthly, for the investment to grow to \( \$ 55,000 \) in 13 years? The lump sum \( \$ \square \) invested at 88 empounded monthly, grows to \( \$ 55,000 \) in \( 13 y e a r s \). (Do not round until the final answer. Then round to the nearest cent as needed.)

Suppose that \( \$ 17,000 \) is invested at continuous rate r and grows to \( \$ 81,103 \) in 28 years. Find the interest rate r. The interest rate is \( \square \% \). (Round to the nearest percent as needed.)

\( 1 \leftarrow \) If \( \$ 11,000 \) is invested at \( 8 \% \) interest compounded quarterly, find the interest earned in 13 years. The interest earned in 13 years is \( \$ \square \). (Do not round until the final answer. Then round to two decimal places as needed.)

12. Savings Growth Comparison (Compound Interest) Scenario A client, Ms. Gina Villamor, wants to invest P100,000 for 10 years. She has two options: - Bank A: Offers \( 4 \% \) annual compound interest, compounded quarterly. - Bank B: Offers 4.2\% annual compound interest, compounded semi-annually. Instructions 1. Calculate the future value of both investments. 2. Prepare a table showing the balance at the end of each year for both banks. 3. Write a letter to Ms. Villamor recommending the better investment option and explaining your calculations.

To help with her child's college fund, Charmaine needs to invest. Assuming an interest rate of \( 2.25 \% \) compounded annually, how much would she have to invest to have \( \$ 97,200 \) after 14 years? Do not round any intermediate computations, and round your final answer to the nearest dollar. If necessary, refer to the list of financial formulas.