Identify the Financial Application represented & the Desired Quantity in the problem. North Central Sales bought a new computer system. To pay for the system, they borrowed $50,450 from the bank at 8% interest for 165 days. Find the interest amount paid. Application: Simple Interest Financial Application: Application: Compound Interest Application: Present Value of Annuity Desired Quantity (what you are solving for): Application: Future Value of Annuity Quantity: Present Value Amount (Present Principle) Quantity: Future Value Amount Quantity: Payment Amount Quantity: Interest Amount Quantity: Interest Rate QUESTION 2 Quantity: Time