1. Calculate the monthly payment on a $200,000 mortgage if payment is made at the beginning of each month, and the annual interest rate is 5.5 percent for 30 years. $1,135.58

$1,100.00

$1,130.40

$11,000.00

2. Your employer gives you a stock bonus of $1,000 in your company at the beginning of each year. You plan to retire in 20 years. The stock has a growth rate of 15 percent per annum. How much would your employer give you in stock bonuses during the 20 years? $1,000 $20,000 $15,000 none of the above

3. Your employer gives you a stock bonus of $1,000 in your company at the beginning of each year. You plan to retire in 20 years. The stock has a growth rate of 15 percent per annum. What will the value of your stock be in 20 years? $102,443.58 $86,4421.00 $117,810.10 $72,035.10 Cannot determine with the information provided.