MAT 117 - Summer 2022 NAME: Unit D Problem Set Directions: Complete the problems on this sheet or on your own paper. Show all work and include appropriate units where applicable. Box all final answers. . A farmer shows up at a tractor dealership with $150,000 to buy a tractor priced at $148,875. The excess after buying the tractor will be used to pay for license, insurance and maintenance for the first few months. A [3 pts] Since he is paying cash for the tractor he is able to negotiate 15% reduction off the sticker price. How much did he pay for the tractor? B. [3 pts] How much money does he have available for license, insurance and maintenance. C. [5 pts] How much money did he invest 11 years ago at 8% compounded monthly to be able to have $150,000 to buy the tractor and cover the other costs? Round your answer to the nearest dollar. A = P(1+_ )nt