1. How much must you deposit today at 5% interest to be able to pay out $35,000 each year for four years if the first payment occurs in 12 years?
2. If you borrow $250,000 for 15 years at an APR of 4.5%, what will be the remaining loan balance after ten years of making the required minimum monthly payments?
3. If you borrow $250,000 for 15 years at an APR of 4.5%, how much interest will you pay during the first five years of the loan if you make only the minimum required monthly payments?