1. If you purchase a lot for $33910 today, how many years will it take for your investment to reach a value of $205400 if the property is expected to increase in value at an annual rate of 10% compounded semiannually?
2. What is your monthly payment on a mortgage loan of $65600 for 5years if the bank charges 5% annually compounded monthly?
3. What should you pay for a property which pays you $5797 semiannually if you expect to earn 6% annually for 4years and you expect to sell the property for $186500?