1. Lauren is repaying a loan of 100,000 using the sinking fund method. At the end of each year, she pays 7000 into a sinking fund earning 8%. At the end of year Y, Lauren will have sufficient money in the sinking fund to repay the loan. Calculate Y.
2. How does the finance function interface with and impact the innovation process?
3. What are the three bond rating agencies? Provide a brief description of each?