1. Suppose that your saving account earns interest at APR of 5.8% compounded monthly. Determine the annual percentage yield (APY) of your saving account. Write your answer in the hundredth of a percent.

2. A certain drug breaks down in the human body at a rate of 12% per hour. (Write your answers in two digits after the decimal.)

(a) What is the approximate half-life of the drug in human body?

(b) What is the exact half-life of the drug in human body?

(c) How long does it take for the drug to reduce to 20% of the original amount?

(d) If you took 100 milligram of the drug at 7:00 am, how much is left in your bloodstream at 5:00 pm of the same day? (Round your answer to 2 decimal digits.)

3. Suppose Dr. San has just obtained a 30-years home mortgage in the amount of $292,000 at an APR of 4.75% with a closing cost of $1200 and 1.5 points.

(a) Find his monthly payment.

(b) Calculate the total closing cost.

(c) What is the total cost of the loan?

(d) How much interest does he pay during the loan term?