1/ Assume you purchased a car that costs $14,000. The car dealership is offering financing at 5% per year. How much is your annual payment assuming you financed the car for 5 years? How much did the car actually cost?

2/ At the beginning of the season on April 1, Green Acres Golf Course completed a physical inventory count and found that $3,000 of inventory was still on hand. Throughout the month of April, Green Acres had the following purchase transactions occur to restock their clubhouse merchandise. Determine the cost of goods available for sale.

Purchased 10 golf bags for $50 each from a national vendor.

Purchased 200 boxes of 12-pack golf balls printed with the Green Acres Golf Course logo for $10 per box.

Purchased 3 sets of golf clubs that cost $150, $200 and $250 respectively.

Returned 15 boxes of golf balls due to a logo printing defect.

Purchased 55 personalized polos for $20 per shirt. When the shirts arrived, Green Acres did not like the shirt color chosen and negotiated a $2 per shirt allowance with the supplier.