1. Kelly Hines wants to purchase a condo in Oxford in 10 years. The cost of the condo is expected to be $380,000. Assuming she can earn 6% annually, what should Kelly deposit today?

2. Hanes Corporation accepted a $16,000 note on August 2. Terms of the note were 13% for 100 days. Hanes discounted the note on September 28 at the Reno Bank at 14%. The proceeds to Hanes would be:

3. Joan Roe borrowed $85,000 at a rate of 11 3/4%. The date of the loan was July 18. Joan is to repay the loan on September 14. Assuming the loan is based on exact interest, the interest Joan will pay on September 14 is: