1. Tom purchases a truck for $23,470.91. What is the annual interest rate if the monthly payments for the next three years are $179.32? Answer % (4 pts.)

2. ABC company will need $1,588,432 in the future to pay off maturing 0bonds. If future receipts are discounted at a rate of 11.12% and you have $553,700 to invest today. How many years will it take ABC Company to reach its goal? Answer years (4 pts.)

3. Sue needs an investment that would yield $33,788 at the end of each year for the next eleven years? If the interest rate is 12.06%, what amount needs to be deposited now? $Answer (4 pts.)

4. Bob borrows $475,689 from the Bank of the Bahamas to purchase a Condo. The loan agreement states that the annual interest rate is 4.66%. Computer the amount of the monthly payments, assuming a thirty-five-year mortgage. $Answer (4pt.)

How much in total would you pay over the 35 year loan period? $Answer (2 pts.)

How much interest would you pay over the 35 year loan period? $Answer (2 pts.)