Your father has $500,000 and wants to retire. He expects to live for another 20 years and he also expects to cam 8% on his invested funds. How much could be withdrawn at the beginning of each of the next 20 years and end up with zero in the account? a. $53, 431.83 b. $47, 153.80 c. $57, 764.40 d. $47, 843.15 e. $45, 199.76 Your company has just taken out a 1-year installment loan for $100,000. Monthly payments on the loan will be $8, 978, due at the end of each month. What percentage of the 3^rd monthly payment will go toward the repayment of principal? a. 91.70% b. 94.81% c. 86.79% d. 88.54% e. 89.06% You take out a 30 year, 6% mortgage for $300,000, paying 3 "points". What is the true/accurate/correct rate of interest on the mortgage? a. 4.85% b. 6.29% c. 7.60% d. 5.81% e. 9.47%