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(Annuity interest rate) You've been offered a loan of $10,000, which you will have to repay in 5 equal annual payments of $3,000, with the first payment due one year from now. What interest rate would you pay on that loan? The interest rate you would pay on the loan is \%. (Round to two decimal places.) (Annuity number of periods) You've just bought a new flat-screen TV for $3,200 and the store you bought it from offers to let you finance the entire purchase at an annual rate of 11 percent compounded monthly. If you take the financing and make monthly payments of $150, how long will it take to pay off the loan? How much will you pay in interest over the life of the loan? a. The number of years it will take to pay off the loan is years. (Round to one decimal place.) (Saving for retirement-future value of an annuity) Selma and Patty Bouvier are twins and both work at the Springfield DMV. Selma and Patty Bouvier decide to save for retirement, which is 35 years away. They'll both receive an annual return of 11 percent on their investment over the next 35 years. Selma invests $1,700 per year at the end of each year only for the first 10 years of the 35-year period-for a total of $17,000 saved. Patty doesn't start saving for 10 years and then saves $1,700 per year at the end of each year for the remaining 25 years-for a total of $42,500 saved. How much will each of them have when they retire? a. How much will Selma have when she retires? $ (Round to the nearest cent.)