1. A deposit of $650 earns interest rates of 7 percent in the first year and 10 percent in the second year. What would be the second year future value? (Round your answer to 2 decimal places.)
2. How much do you have to set aside each year to accumulate $60,000 after 8 years? The interest rate is 10%.
3. If you borrow$14,350 and are required to pay back the loan in five equal annual installments of $3,500, what is the interest rate associated with the loan?