1. Lynn wants to travel at the time when her bank account has $9,500.60, and she needs to withdraw from her account $1,219.93 at the end of each quarter for the travel expenses while she travels until no funds remain in her account. Lynn would like to know for how long (in years) she can withdraw $1,219.93 from the account at the end of every quarter if interest is 2.4% compounded monthly. Answer the following question:

For how long (in years) can she travel? Do not enter text or characters such as dollar sign or comma.

2. Your brother plans to borrow $49,000 at a 10.3% interest rate compounded annually. The contract terms require your brother to amortize the loan with 7 equal payments each made at the end of each year. He asks for your help to construct an amortization schedule showing details of the payments. Answer the following question:

This question is an example of what?

3.Your brother plans to borrow $49,000 at a 10.3% interest rate compounded annually. The contract terms require your brother to amortize the loan with 7 equal payments each made at the end of each year. He asks for your help to construct an amortization schedule showing details of the payments. Answer the following question:

Before an amortization schedule is constructed, which TVM variable should be set equal to zero in the financial calculator?

Show all the steps that you did until you reached the final answer.