1. How long will it take to pay off a loan of ?$49,000 at an annual rate of 9 percent compounded monthly if you make monthly payments of ?$650?? Use five decimal places for the monthly percentage rate in your calculations.
2. An investment pays $4,600 every other year forever and the discount rate is 12 percent compounded daily. What is the value of the investment, if the first payment occurs one year from today?
3. The Financial Management Decision Process, What are the three types of financial management decisions? For each type of decision, give an example of a business transaction that would be relevant.