1. You are currently 60 years old. You want to receive $10,000 annually beginning at the age of 60 for 20 years. If the interest rate is 8%, how much money must you have in your bank account today? a. $106,035.99 b. $200,000 c. $49,755.01 d. $42,909.64 2. You want to buy a car. The list price is $10,000. You are able to put down $6,000. The dealer tells you, that he is willing to lend you money at an annule interest rate of 6% but you must be able to pay off the loan in 3.5 years. You can afford $100 monthly payments. How much can the dealer lend you? a. $3526.40 b. $4452 c. $3881.35 d. $3779.83 3. Assume that your monthly mortgage payment is $2,000. The original mortgage is $180,000 and the mortgage is paid off in 15 years. Determine the annual (bond-equivalent yield) interest rate of the mortgage. a. 10.25% b. 10.43% c. 10.59% d. 11.01%