$3.$ You will be buying $1,000$ acres of farmland that costs $$1,400$ per acre. The bank requires you put $20\%$ down. You will finance the land for $7$ years and pay $4\mathrm{.}25\%$ interest.

a$.$ What will your monthly payments be$?$

b$.$ What will your principal balance be after your $36$th payment is made?

c$.$ What is the total amount of your payments over the life of the loan?

d$.$ How much interest will you pay over the life of the loan?

$4.$ You deposit $$10,000\mathrm{.}00$ initially in a certificate of deposit that pays $2\mathrm{.}25\%$ interest monthly.

a$.$ How much will your CD be worth in $3$ years?

b$.$ How much interest will you earn over the life of the CD$?$