PGE 411 Homewok-2 Due Date: August 9, 2018 1. Gesky Industrial Products manufactures brushless blowers for boilers, food service equipment, kilns, and fuel cells. The company borrowed S18,000,000 for a plant expansion and repaid the loan in seven annual payments of $3,576,420, with the first payment made 1 year after the company received the money. What was the interest rate on the loan? Use hand and spreadsheet solutions. 2. The amount of money that Diamond Systems can spend now for improving productivity in lieu of spending $30,000 three years from now at an interest rate of 12% per year is closest to: (a) $15,700 (b) $17,800 (c) $19,300 (d) $21,350 3. A manufacturing company spent S30,000 on a new conveyor belt. If the conveyor belt resulted in cost savings of $4200 per year, the length of time it would take for the company to recover its investment at 8% per year is closest to: (a) Less than 9 years (b) 9 to 10 years (c) 11 to 12 years (d) Over 12 years