INSTRUCTIONS: ANSWER ONLY 5 questions on separate pages. Each question has equal value. Show your work as discussed during the lectures, demonstrating important timelines, formula, and interest rate conversions. You must solve using the formulas taught in class. You must submit (1) your multiple-choice selections (at the end of the exam paper) and (2) your handwritten solutions (required to earn full points) (3) your formula sheet(s). Answers without evidence will receive a grade of zero. Do not round off any intermediate calculations. Final dollar answers should be rounded to two decimal places. Unless otherwise indicated, final interest rate answers should be rounded to 6 decimal places if expressed as a decimal or 4 decimal places if expressed as a percent. You do not need to show "trailing zeros" (i.e., if no non-zero digits remain, 2.5% will do instead of 2.500000% ) but make certain there are none. Include a timeline for obtaining part-marks in the event that you misinterpret the problem. Please contact me at (787) 504-0077 if you have any questions. 1. A loan of $50,000 has an effective interest rate of 4.5 percent per year. Repayment of principal and all accumulated interest is to be made at the end of year 10 . a) How much is paid at the end of the tenth year? b) How much simple interest is paid (excluding the interest accumulated on interest)? c) How much compound interest is paid (i.c., interest on interest)? (A) $77,648.47$5,148.47$22,500.00 (B) $77,648,47$22,500.00$5,148.47 (C)$72,500.00$5,148.47$22,500.00