a)Answer the question by showing your work b)EXplain your steps by your own words 1.Faisal borrowed $3000, $3500, and $4000 from his father on January 1 of 3 successive years at college. Faisal and his father agreed that interest would accumulate on each amormt at the rate of 5% compounded semiannuaily. Faisal is to start repaying the loan on the January 1 following graduation. What consolidated amount will he owe at that time? 2.An investment of $2500 earned interest at 4.5% compounded quarterly for 1% years, and then 4.0% compounded monthly for two years. How much interest did the investment earn in the 3%; years? 3. A lottery prize was shared by Andy, Betty, and Chris by the ratio of 15:12:27. If Andy received 4,500, how much did Chris get? 4. What single payment 1 year from now would be equivalent to $2500 due in 3 months, and another $2500 due in 2 years? Money is worth 7% compounded quarterly. 5. A $15,000 loan at 11.5% compounded semiannually is advanced today. Two payments of $4000 are to be made 1 year and 3 years from now. The balance is to be paid in 5 years. What will the third payment be? 6. An investment promises two payments of $500, 90 and 150 days from today. What price will an investor pay today if her required rate of return is l6.5%? 7.Given the following: Cost, C Selling price, S Operating expenses, ($) ($) E 55.65 79.50 30% of selling price