QUESTION $1$

Almond just bought a new cracker. To pay for the cracker, the company took out a loan that requires Almond to pay the bank a special payment of $$5,371\mathrm{.}00$ in $3$ months and also pay the bank regular payments of $$2,131\mathrm{.}00$ each month forever. The interest rate on the loan is $1\mathrm{.}52$ percent per month and the first monthly payment of $$2,131\mathrm{.}00$ will be paid in $1$ month. What was the price of the cracker?

$$140,197\mathrm{.}37($plus or minus $3$ dollars$)$

$$145,330\mathrm{.}71($plus or minus $3$ dollars$)$

$$145,568\mathrm{.}37($plus or minus $3$ dollars$)$

$$145,487\mathrm{.}95($plus or minus $3$ dollars$)$

none of the answers are within $3$ dollars of the correct answer

QUESTION $2$

Almond just bought a new cracker. To pay for the cracker, the company took out a loan that requires Almond to pay the bank a special payment of $$5,447\mathrm{.}00$ in $3$ months and also pay the bank regular payments of $$2,130\mathrm{.}00$ each month forever. The interest rate on the loan is $1\mathrm{.}50$ percent per month and the first monthly payment of $$2,130\mathrm{.}00$ will be paid in $1$ month. What was the price of the cracker?

$$147,209\mathrm{.}06($plus or minus $3$ dollars$)$

$$142,000\mathrm{.}00($plus or minus $3$ dollars$)$

$$147,447\mathrm{.}00($plus or minus $3$ dollars$)$

$$147,366\mathrm{.}50($plus or minus $3$ dollars$)$

none of the answers are within $3$ dollars of the correct answer

QUESTION $3$

You own two investments, A and $B,$ that have a combined total value of $$24,000\mathrm{.}00.$ Investment $A$ is expected to make its next payment in $1$ month. A$\text{'}$s next payment is expected to be $$86\mathrm{.}00$ and subsequent payments are expected to grow by $0\mathrm{.}49$ percent per month forever. The expected return for investment $A$ is $0\mathrm{.}80$ percent per month. Investment B is expected to pay $$60\mathrm{.}00$ each quarter forever and the next payment is expected in $3$ months. What is the quarterly expected return for investment $B?$

$-1\mathrm{.}60\%($plus or minus $2bps)$

$0\mathrm{.}36\%($plus or minus $2bps)$

$0\mathrm{.}25\%($plus or minus $2bps)$