1. After college you consolidate your student loans of $56,000 at a fixed annual interest rate of 6.45%. Calculate the percentage of the loan is paid for interest out of the total amount paid if the loan is to be paid off in 25 years. Round your answer to the nearest tenth of a percent.

2. Suppose you wish to purchase a home while putting a 20% down payment on the home and financing the rest of the house payment with a mortgage. Which of the following scenarios would result in you paying the least amount of money after you payed off the home, assuming you make regular monthly payments throughout the life of the loan.

a. 30 year fixed rate morgage with an annual interest rate of 4.25% b. 20 year fixed rate morgage with an annual interest rate of 4.25% c. 15 year fixed rate morgage with an annual interest rate of 4.15% d. 10 year fixed rate morgage with an annual interest rate of 4.15%

3. Realtors use an index to compare housing prices in major cities throughout the country. The housing price indexes for several cities in 2016 are given in the table below

City	Index	City	Index
Savannah	248	Detroit	232
New York	744	Dallas	244
Las Vegas	265	Los Angeles	633
San Francisco	775	Seattle	544
San Diego	562	Washington D.C.	491

Using the information listed in the above table, if you see a house valued at $1,000,000 in New York, what would the cost of a comparable house be in Detroit. Round your answer to the nearest cent.

4. A high school currently has a 30% dropout rate. Theyve been tasked to decrease that rate by 20%. Find the equivalent percentage point drop.