1)If Adam's house was purchased for $280 000 five years ago and is worth $296 000 now, and his mortgage wa$224 000 and amortized over 25 years, at four percent interest, compounded semiannually,what is his equity in his house now? (To the nearest $1000)

A.$101 000

B.$85 000

C.$72 000

D.Not enough information given to answer this

2) Auto insurance rates are based on

A.the condition of your vehicle.

B.the number of kilometres and the type of driving you do each year.

C.whether or not you keep your car in the garage.

D.your marital status.

3)Your insurance policy carries a $200 deductible for collision and $500 deductible for comprehensive. If you cause an accident which results in the following repairs and losses to your car andpossessions, what will be the reimbursement from the insurance company under your collision and comprehensive coverage?

? Replacement of trailer hitch $500

? Replacement of rear bumper $700

? Replacement of computer (in trunk) $400

? Replacement of rear windshield $400

A.$1500

B.$1800

C.$1400

D.nothing