You are currently driving to UBC. You want to get an electric bicycle (e-bike) so that you can cycle to BC Instead and decided to purchase a TREK 100 Auto E-bike for $3,000. Your local credit union is promoting green initiatives such as these and is willing to provide you with a $3,000 equal payment amortizing loan for four years at 5% per year, compounded annually. If a UBC parking permit costs $1,015 per year, payable in advance, and parking for your new e-bike is free, is this a good investment? (Assume your e-bike has a 4 year life and your required rate of return is 5%). Show your calculations. (3)