The sum of $5500 is deposited into an account paying 12% annually. If $ 1000 is withdrawn at the end of years 1, year 2 and year 3, how much remains in the account at the end of year 3?

Multiple Choice

• $3,482.16

• $4,570.34

• $4,787.97

• $4,352.7

Your real estate agent mentions that homes in your price range require a payment of $2450 per qaurter for 21 years at 1.4% interest per quarter. What is the size of the mortgage with these terms?

Multiple Choice

• $42,537.99

• $122,979.93

• $44,310.41

• $120,568.56