1. A store owner applies for a loan. The bank approves a discount loan of 5000 dollars for a term of 1 year at an interest rate of 4.5%. Solve.

a) $5000

b) $4500

c) $4775

d) $4850

2. A payday lender charges 2% interest for a 1 week loan. The corresponding annual interest rate is ___% Find the percentage as a whole number.

3. John saves for a car by depositing $800 each quarter into an annuity that pays 6% compounded quarterly. Find the value at the end of three years. Round to nearest penny.