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After graduation, you plan to work for Rocket Corporation for 13 years and then start your own business. You expect to save and deposit $7,000 a year for the first 6 years (t = 1 through t = 6) and $12,500 annually for the following 7 years (t = 7 through t = 13). The first deposit will be made a year from today. In addition, your mother just gave you a $20,00 graduation gift as an incentive to work hard which you will deposit immediately (t = 0). If the account earns 6.5% compounded annually, how much will you have when you start your business 13 years from now? Suppose you are getting a new car with your parents' help. The car you want to buy costs $25,000 and you and your parents together put up $12,500 and the rest is loan from the local bank at 5.2% for four years. You will make payments monthly starting next month. What is the ending balance ($) of your loan after you make the third monthly payment? (Note that this is the ending balance of year 3 of your amortization schedule!) What is the total amount of interest you are going to pay during the life of the loan