1. A recent graduate's student loans total $17,000. If these loans are at 4.4%, compounded quarterly, for 10 years, what are the quarterly payments? (Round your answer to the nearest cent.)

2. A homeowner planning a kitchen remodeling can afford a $800 monthly payment. How much can the homeowner borrow for 2 years at 3%, compounded monthly, and still stay within the budget? (Round your answer to the nearest cent.)

3. A couple purchasing a home budget $1500 per month for their loan payment. If they have $27,000 available for a down payment and are considering a 25-year loan, how much can they spend on the home at each of the following rates? (Round your answers to the nearest cent.)

a) 6.2% compounded monthly

(b) 7.1% compounded monthly