1) Christy has taken a loan to buy baking equipment to start a small bussiness. They need to borrow $76,000.00 using a 7-year small bussiness loan. The loan has an interest rate of 5.8% compounded monthly, and they will make monthly payments of $1,102.98. (Round all answers to 2 decimal places.) What is the unpaid balance after 15 months? $ ______________ During this time period, how much interest did they pay? $ _______________

2) Monico invests $14,000 at 2% simple interest for 1 year. How much is in the account at the end of the 1 year period? $_______________

3) Lucas and Gabrielle have a new grandson. How much money should they invest now so that he will have $48,000 for his college education in 18 years? The money is invested at 2.55% compounded annually. $ _______________