\begin{tabular}{l|l} A state law requiring you to \\ prove that you can pay for \\ damages you cause with a \\ vehicle is called a financial \\ responsibility law. \end{tabular}

Determine the number of months to complete paying for the balance.

a. The future value of \( \$ 590 \) six years from now at 5 percent. b. The future value of \( \$ 1,000 \) saved each year for 10 years at 7 percent. c. The amount a person would have to deposit today (present value) at an interest rate of 9 percent to have \( \$ 600 \) five years from nov d. The amount a person would have to deposit today to be able to take out \( \$ 900 \) a year for 9 years from an account earning 7 percent.

A lawnmower was traded in for \( R 236 \) after 10 years. The depreciation was calculated at \( 9,2 \% \) p.a. on a straight-line basis. Determine the cost of the lawnmower 10 years ago.

a. The future value of \( \$ 590 \) six years from now at 5 percent. b. The future value of \( \$ 1,000 \) saved each year for 10 years at 7 percent. c. The amount a person would have to deposit today (present value) at

₹ 6.050 is borrowed at \( 6.5 \% \) rate of indereat p.a. Find the inderest and the amount to be paid at the end of 3 years.