1. After working for a few years with your UCF finance degree, you're ready to buy a $450,000 house. Suppose you pay 20% as a down payment, and you finance the rest for 30 years at 6.5%. What is the amount of your monthly payment?

2. After working for a few years with your UCF finance degree, you're ready to buy a $450,000 house. Suppose you pay 20% as a down payment, and you finance the rest for 30 years at 6.0%. What is the balance on your mortgage after you have paid your 200th payment?

3. If you borrow $30,000 from a local finance company and you are required to pay $711 per month for 4 years, what is the annual interest rate on the loan?