1) Solve the system by the elimination method. (Enter your answers as a comma-separated list. If the system is inconsistent, enter INCONSISTENT. If the system is dependent, enter DEPENDENT.)

x + y = 8

2x + 3y = 22

2) Find the unpaid balance on the debt. (Round your answer to the nearest cent.)

After 7 years of monthly payments on $180,000 at 5% for 25 years.

3) Determine the payment to amortize the debt. (Round your answer to the nearest cent.)

Monthly payments on $170,000 at 3% for 25 years.

4) In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period.

You and your new spouse each bring home $1600 each month after taxes and other payroll deductions. By living frugally, you intend to live on just one paycheck and save the other in a mutual fund yielding 7.81% compounded monthly. How long will it take to have enough for a 20% down payment on a $155,000 condo in the city? (Round your answer to two decimal places.