(A) Buck has land that he wants to sell. The land has an original cost of $50,000. Buck accepts in exchange a note receivable with a principal balance of $60,000. The note pays interest at only 1% per year, with the principal due in 5 years. If the market rate of interest for this note receivable is 8% per year, what is Buck's gain or loss on sale? N= Work (if necessary) Answer PMT- FV= PV- (B) The DePuy Company is going to be issuing bonds with a principal amount of $50,000. The bonds pay 4% interest, payable semi-annually, with payments on July 1 and Jan. 1. The bonds will mature in 5 years. At the time the bonds are to be issued, the market rate of interest is 6%. How much money will DePuy receive at the time the bonds are issued? Work (if necessary) Answer N Im PMT= FV=> PV- (C) Chance wants to save money to become a millionaire by age 42 (20 years). Chance currently has $50,000 to put into an investment. He can save money every year to put into an investment (at the end of the year). If the investment carns 10% per year, how much will Chance need to save to reach his goal? Answer N Work (if necessary) Im PMT- FV-> PV- M