1. Evaluate the following. (The fractions are meant to be exponents) 4 a) 32 b) 643 2. Simplify the following expressions. a) x6 (x8) (x) x5y4 b) 3 xy2 [1 mark each = 2 marks] [2 marks each = 6 marks] c) (3x4)3 3. Darrell spoke with a financial advisor and learns he can afford to make monthly payments of $500 for the next 5 years in order to start a business. At this point in time, he is able to borrow an amount with an interest of 3.8% compounded monthly. a) What amount of loan is Darrell able to borrow from the bank? [3 marks] b) How much interest will he end up paying over the 5 years? [2 mark] 4. a) Using the 5.6% compounded monthly interest rate from above, determine the monthly payment of a 30 year mortgage of $620 000. You are welcome to use the adjust interest rate with the formula or the provided mortgage rate calculator from the lesson. Please include a snapshot of the excel calculator if you choose this method as part of your solution. [3 marks] b) What is the total amount paid over 30 years? How much of that is interest? [2 marks]