1. Simple Interest:Laura needed to borrow $3,000 to pay off a gambling debt. Her local bank offered her a simple interest $3,000 loan with a 6-month term and told her she would pay $247 in interest.
   1. Calculate the annual interest rate Laura is being offered.
   2. If the bank loan is structured as an installment loan, calculate the total installment price and the monthly payment for the loan.
2. Annuity Payment:Richard is saving money for a down payment on an expensive guitar. He needs $1,500 in 9 months to make his down payment and is saving money in an annuity yielding an annual interest rate of 6% compounded monthly. If the annuity requires that Richard make monthly investments, what annuity payment must Richard make to save enough for his guitar down payment?
3. Mortgage Financing:Juanita purchased a $189,000 home with a 15-year term, 4.5% annual rate mortgage. At closing she paid an $84,000 down payment. Calculate Samanthas monthly mortgage payment