Answer all of these questions with the right question number next to the correct choice. ANSWER ALL OR NONE

1-You just borrowed $20,000 for a new speed boat, but your enthusiasm is dampened a bit when you learn that your monthly payments are $600 over 4 years. If your loan is an ordinary annuity, what is the APR on the loan?

A)51.58%

B)1,918.91%

C)6.92%

D)19.19%

2-It will take you ____ years to save $100,000 if you save $1,000 per month at a 6% rate of return. (All payments at the end of the period).

A)2.8

B)81.3

C)6.8

D)33.4

3-Compounded quarterly at 11.1%, how long will it take for a company's sales to grow by a factor of 3.2?

4-You just borrowed $20,000 for a new speed boat, but your enthusiasm is dampened a bit when you learn that your monthly payments are $600 over 4 years. What is the APR on the loan if your speed boat financing calls for an immediate payment today and every month thereafter for the 4 years?

A)19.19%

B)20.14%

C)1.68%

D)1.60%

5)If you deposit $1,000 at the beginning of each month into a savings account that earns 4% interest per year, how much will your savings be after 5 years?

A)$66,298.98

B)$66,519.97

C)$67,740.97

D$67,519.97