The questions in this assignment involve calculations related to simple interest, compound interest, annuities, or mortgages. Your introduction should provide background information about these topics, describing their use and importance.

Please show as much work as possible so I can see how its done. Thanks!!

Questions:

1. Simple Interest:Jack borrowed money to finance his new business. Private investors offered Jack $28,000 of the $35,000 he needed. To make up the difference, Jack secured a small business, simple interest loan. Jacks loan was structured as an installment loan and required him to pay $297.50/month for 30 months. Calculate the amount financed, total installment price, the finance charge, and the interest rate.
2. Annuity Payment:Bruce is saving money to open a Hispanic food franchise. He needs $15,000 in two years to make his down payment and is investing in an annuity yielding an annual interest rate of 7% compounded monthly. If the annuity requires that Bruce make monthly investments, what annuity payment must Bruce make to save $15,000?
3. Mortgage Financing:Samantha purchased a $129,000 home with 30-year term, 6% rate mortgage. At closing she paid a $10,000 down payment, requiring her to purchase private mortgage insurance (PMI) at a cost of $25 per month. Calculate Samanthas monthly mortgage plus PMI payment.