1. Mark Finley wishes to become a millionaire. His money market fund has a balance of $152,657 and has a guaranteed interest rate of 10%. How many years must Mark leave that balance in the fund in order to get his desired $1,027,000? (Round answer to 0 decimal places,

2. On January 1, 2020, Sweet Corporation purchased 327 of the $1,000 face value, 8%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2030, and pay interest annually beginning January 1, 2021. Sweet purchased the bonds to yield 11%. How much did Sweet pay for the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

3. Headland Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the companys bikes. After a careful evaluation of the request, the board of directors has decided to raise funds for the new plant by issuing $3,492,700 of 10% term corporate bonds on March 1, 2020, due on March 1, 2035, with interest payable each March 1 and September 1, with the first interest payment on September 1st, 2020. At the time of issuance, the market interest rate for similar financial instruments is 8%.