Mystic Resort owes $150,000 at 9% c.s.a. for 4 years due in 6 months. This debt is commuted into a payment of X due in 1 year and a payment of $100,000 due in 2 years. Find X. Show all your work. Set N.R. at 9% c.m..

At the end of his schooling, Molly owes $14,000 in student loans. A repayment schedule is set up with a bank with the interest rate set at 4% c.m. over 10 years and monthly payments of $141.74

a) For tax purposes, interest paid on student loans may be used as a tax deduction. 

How much interest is paid in the first year of the loan?

b) If Molly paid $200 per month instead of $141.74, calculate the final payment and interest savings.

Kelly buys a new kitchen set for $3,400 paying $600 down and the remainder in equal monthly payments over 2 years at 7.75% c.a.

Calculate the monthly payment and the total interest charge.