1. You made a $6000 deposit last year in an account that earns 11% interest compounded quarterly. Compute how much the total interest-on-interest is when you close the account exactly 6 years from today. A. 1526 B. 7811 C. 4998 D. 2205

2. Your friend is taking out a mortgage for $217,000 at 8.25% repayable with quarterly payments over 30 years. She respects your financial expertise and asks "how many payments will I have to make before I reduce the principal balance by 30% its original amount." You pull out your calculator, and tell her the number of payments she'll make to reduce the balance by 30% is: A. 70 B. 104 C. 80 D. 55