7. Betty's Bank offers you a $6,360, six-year loan at 10% annual interest. What will your annual loan payment be?

A. $1,322.50 B. $1,252.80 C. $1,460.30 D. $1,607.25 E. $1,820.45

8. If you deposit $1100 at the end of each year into an account which earns 3% interest compounded annually, how much will be in the account in 6 years?

A. $6,897 B. $6,905 C. $7,115 D. $7,387 E. $7,495

9. CatchaTan Co. had net sales of $1,000,000 over the past year. During that time, average receivables were $200,000. What was the average collection period?

A. 4 days B. 5 days C. 35 days D. 73 days E. 90 days

10. You paid $100,000 for machinery that is depreciated straight line for 5 years. What is the annual depreciation?

A.$50,000 B. $25,000 C. $20,000 D. $10,000 E. $33,333

PLEASE SHOW FINANCIAL WORK