Question: Please Answer Question 4, not 3. 3 Question 3 (Mandatory) SINGLE CASH FLOW: Last year, I sold my jeep fitted with longhorns for $45,000. I

Please Answer Question 4, not 3.

3 Question 3 (Mandatory) SINGLE CASH FLOW: Last year, I sold my jeep fitted with longhorns for $45,000. I bought the car (minus the longhorns) ten years earlier for $17,500. What rate of return did I earn on my investment? (10 points) a. 15% Ob. 9.9% Oc. 11% d. 7% Question 4 (Mandatory) (14 points) MORTGAGE: You have decided to buy a vacation home in Florida for $250,000. You finance 80% of the cost of the home with a mortgage loan. The interest rate on the loan is 8.75% (APR) per year for a 30-year period. Assume all loan payments are made at the end of the month. How much of your principal have you repaid after 1 month? ( 14 points) O a. $1573.40 O b. $1458.33 O c. $115.07 d. $555.56

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