1. You borrow$7000to help pay your college expenses. You agree to repay the loan at the end of6years at10%interest, compounded quarterly. (Round your answers to two decimal places.)(a) What is the maturity value of the loan? $ (b) How much interest are you paying on the loan? $

2. Use a calculator for this exercise. Chuong Ngo borrows $4000 from a bank that advertises a 7% simple interest rate and repays the loan in five equal monthly payments. Estimate the APR. Round to the nearest tenth of a percent. Use the Approximate Annual Percentage Rate Formula. %

3.Use a calculator for this exercise. Arrowood's Camera Store advertises a Canon Power Shot 3.34-megapixel camera for $300, including taxes. If you finance the purchase of this camera for 1 year at an annual percentage rate of 6.3%, find the monthly payment. (Round your answer to the nearest cent.)