Show your calculations in detail.

1. You are planning to purchase a house using a mortgage loan where the payments are to be made monthly. The bank offers you a 20-year mortgage loan with 20% down payment requirement and a monthly interest rate of 1.46%. According to your plan, you will be able to make monthly payments of TL7300 equally. What is the price of the house that you could afford with such a loan? (20 points)

2. You want to buy a new car which costs $25000. The dealer offers you a pay plan, which includes monthly payments with an interest rate of 8.1 % per annum compounded monthly. You can make an initial payment of only $2000and can afford monthly payments of at most $359. How long will you need to pay off the loan? (20 points)

3. Which of the following APRs on your deposit would you prefer? (20 points)

17.57% compounded annually

17.11% compounded monthly

4. Suppose you have been considering an investment project, which is expected to provide following cash flows. (20 points)

Year	Cash Flows
1	1160.0
2	1110.0
3	1030.0

What is the value of this investment to you, if you are asking for an annual return of 9.2 percent?

5. You are planning to retire exactly in 30 years from now. Your goal is to create a fund that will allow you to receive $8360 at the end of each month for 25 years after your retirement. You assume that you will be able to earn 1% per month on your deposit account for these years (all the years you save and the years you withdraw). What will be the amount of monthly payments that you make for 30 years until you retire? (20 points)