1. You purchase a home for $5,000,000, make a payment of $2,000,000, and borrow the balance of $3,000,000. The mortgage loan is for 25 years and the rate of interest is 3% p.a. What is the monthly payment required by this loan?

2. You wish to retire in 12 years and currently have $50,000 in a savings account yielding 5% annually and $100,000 in quality blue chip stocks yielding 10%. If you expect to add $30,000 at the end of each year to your stock portfolios, how much will you have in your retirement fund when you retire?

3. You have graduated from college but unfortunately have $32,000 in outstanding loans. The loans require monthly payments of $3,245, which covers interest and principal repayment. If the interest rate is 4% p.a., how long will it take you to repay the debt?