3. Todd borrowed money to buy a boat. He will repay the loan with over 5 years with quarterly payments of $500, and the loan carries an interest rate of 4.65% compounded quarterly. How much did he borrow? N = PV = FV = PMT = P/Y=C/Y = How much total interest will he pay? 4. Weston plans to invest $400 biweekly into an account earning an annual rate of 5.25% compounded biweekly. If he does this for 15 years, how much will he then have in his account? N = PV = FV = PMT = P/Y=C/Y = How much interest will he earn on his account