1. You would like to purchase a home for $140,000. If you can obtain financing for 3.75 percent annual interest and would like to pay the mortgage off in 30 years, calculate your monthly mortgage payment.
Round to 5 decimals
2. The Dead Vase Flowers buys plants for $2 each and resells them for $8.95 each. The firm sells 3,500 plants per year. Generally, the firm orders 400 plants at a time and has a fixed cost per order of $28. The annual carrying cost per unit is $1.16. To avoid newer plants mixing with older plants, the inventory is totally sold out before it is restocked. The total annual carrying cost is ____ and the total annual restocking cost is _____.
a. $232; $245
b. $232; $269
c. $232; $256
d. $211; $245
e. $211; $269