Question 1 (1 point) Trevor will make payments of $425 per month for 5 years on a loan of 24,521. How much interest will he pay over the life of the loan? Your Answer: Answer Question 2 (1 point) Two friends are saving for their retirement. They each have the same time until retirement and will earn the same interest rate on their savings. If one friend deposits twice as much each month into his retirement account, he will end up with: more than twice as much money. less than twice as much money. exactly twice as much money. Question 3 (1 point) How long will it take to pay off a debt of $47,000 if you make payments of $400 at the end of each month? Assume that the debt charges interest at a semi-annual rate of j2=7.20%? Express your answer in years rounded to 2 decimal places. Your Answer: Answer Question 4 (1 point) Calculate the amount that must be invested at the end of each quarter at j4=6% in order to accumulate $500,000 after 25 years. Your