1. You have $3,000 in your savings account, and want to buy a car for $15,000. If you are not earning any more money and the interest rate on your savings account is 4% per year, how many years do you have to wait before you can buy the car?

2. In order to save for your retirement, you want to save $7,000 every year for 15 years, starting one year from now. The annual interest rate on your savings account is 3%. How much money will you have in your account in 15 years?

3. You took out some student loans in college and now owe $7,000. You consolidated the loans into one amortizing loan, which has an annual interest rate of 3% (APR). If you make monthly payments of $200, how many months will it take to pay off the loan? Fractional values are acceptable.