On September 1, 2022, Mary Ford purchased a new car for $30,000. Mary will make
a down payment of $5,000 on September 1, 2022, and will make the first payment at
the same time. Mary will make 30 monthly payments and will pay 12% APR.
Determine the monthly payment Mary will make.

On June 1, 2022, Carson Automotive issues 7% stated rate bonds with a total face
amount of $250,000. The bonds mature in ten (10) years on June 1, 2032.
Interest is paid semiannually on December 1 and June 1.
The market rate of interest, on June 1, 2022, for similar bonds was 8%.
Determine the price of the bond on June 1, 2022.

Bob Jones invests $100,000 into a retirement account. Bob expects to earn 6% interest

compounded annually. Bob plans to retire when the account balance exceeds $300,000.

In what year will the account balance be greater than $300,000 and Bob will retire?