must show work, thank you in advance

A True Bm Problems. Enter all your answers in the answer sheet provided. Show all work to get full credit. Two (2) points each. One point for correct answer and one point for correct work. If you use the calculator, show the number and the function key used. 11. What is the effective annual rate of 8.25 percent compounded quarterly? A. 8.25 percent [1+ CV- B. 8.49 percent nou C. 8.38 percent D. 8.51 percent E. 8.56 percent (1+6.0825/4)+ - 1 12. You want to have $35,000 in cash to buy a car 3 years from today. You expect to earn 3.6 percent, compounded annually, on your savings. How much do you need to deposit today if this is the only money you save for this purpose? A. $32,618.92 B. $34,511.68 C. $33,726.04 D. $31,476.67 E. $30,156.19 13. You want to purchase a new condominium that costs $287,500. Your plan is to pay 25 percent down in cash and finance the balance over 15 years at 3.75 percent. What will be your monthly mortgage payment including principal and interest? A. $1,568.07 B. $1,333.33 C. $1,708.16 D. $1,221.43 Page 2 of 3