(PLEASE SHOWS STEPS TO ANSWERING QUESTIONS)

1.If the Abc firm borrows $2,000 for 90 days and at the end of the 90 days pays back the $2,000 and $85 in interest, What is the APR using a 360 day year?

2.If the XYZ Co. plans to sell some 270 day commercial paper at a 7% per annum discounted and is expected to have $550,000i dealer placement fees, what is the effective rate of a $120,000,000 issue?

3.If the exchange rate on 1/1/94 was 3 pesos to the dollar and you took $20,000 to Mexico and put it in a Mexican bank @50% interest, what was your annual rate of return in dollars if the exchange rate was 6 pesos to $1 one year later when you went to get your money and bring the dollars back to the US?

(PLEASE ANSWER ALL QUESTIONS SHOWING STEPS)