1- If you save $85 at the beginning of every month for eleven years, for how long can you withdraw $280 at the beginning of each month starting eleven years fromnow, assuming that interest is 6% compounded monthly? State your answer in years and months(from 0 to 11months).

You can withdraw $280 for _____ year(s) and ______ month(s).

(Type wholenumbers.)

2-Aryssa has saved $65,600.00. If she decides to withdraw $3,446.00 at the beginning of every threemonths and interest is 7.88% compounded semi-annually, for how long can she makewithdrawals? Express your answer in years and months(from 0 to 11months).

Her last withdrawal will occur _____ year(s) and _______ month(s) from now.

(Type wholenumbers.)

3-A vehicle can be purchased by paying $24,000 now, or it can be leased by paying $521 per month for the next four years, with the first payment due on the day of signing the lease. What nominal annual rate of interest compounded monthly is charged on thelease?

The nominal annual rate of interest is ________ % compounded monthly.

(Round to two decimal places asneeded.)