Calculation and Application questions (30pts, each question is worth 3pts). solve the following problems related to TVM (Time Value of Money). (1) Peter Minuit, director-general of the Dutch West India Company in North America bought Manhattan Island from Native Americans for 60 guilders in 1626. It is reported that 60 guilders was worth about $24 at the prevailing exchange rate. If the return on investment for the last 397 years was 6% per year, who did a better decision? The price of Manhattan Island is estimated US\$4 trillion in 2023. (2) Suppose you inherited $100,000 and invested it at 5\% per year. What is the most you could withdraw at the end of each of the next 30 years and have a zero balance at year 30 ? (3) You borrowed $20,000 on a student loan at a rate of 6% and must repay it in ten equal installments at the end of the next 10 years. a. How much of the first payment would represent the repayment of principal? b. What would your ending balance be after the second year