Your solutions to the problems in this test are to be done on these sheets only; no extra sheets will be accepted. Show your work for each problem. No partial credit will be given if you just present an answer (and it is wrong) without showing the steps in your solution. No cell phone use or connections to the Internet during the test. No copying of work from another student. Your monthly mortgage payment (principal plus interest) is $1, 050. If you have a 10-year loan with a fixed interest rate of per month, how much did you borrow from the bank to purchase your house (rounded to the nearest whole dollar)? A small textile plant was constructed in 2007. The major equipment, costs, and factors are shown in the table below. Estimate the cost to build a new plant in 2017 if the index for this type of equipment has increased at an average rate of 12% per year for the past 10 years