You expect to have $ 6,000 in one year. A bank is offering loans at 5.0 % interest per year. How much can you borrow today?

Today you can borrow $ . (Round to the nearest cent.)

You are thinking of building a new machine that will save you $ 1,000 in the first year. The machine will then begin to wear out so that the savings decline at a rate of 1 % per year forever. What is the present value of the savings if the interest rate is 9 % per year?

The present value of the savings is $ . (Round to the nearest dollar.)

You are thinking of purchasing a house. The house costs $ 350,000. You have $ 50,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 6 % per year. What will be your annual payment if you sign this mortgage?

The annual payment is $ (Round to the nearest dollar.)