Question 1. Solve the following problems: (i) You just bought a Kia Soul EV. You made a down payment of $2,500 and will pay $500 per month for four years starting in a month. The interest rate on the car loan is j12 = 3.9%. Find the cost of financing (the amount of interest paid). (4 marks) BGN P/Y C/Y N I/Y PV PMT FV Answer (2 decimals): (ii) At Zag Bank the interest rate paid on a GIC is 7.2% compounded monthly. What nominal interest rate, compounded quarterly, would ICICI Bank have to pay to match this rate? [2 marks] Answer (3 decimals): (iii) You paid $5,000 to buy a Bombardier bond with a face value (maturity value) of $5.000 that matures in 30 years and has a coupon rate of 5.20% pavable semi-annually. If you sell the bond in 24 months, when the interest rate on similar bonds is )2 = 6.50%. how much is your expected gain or loss on the sale of the bond? [4 marks) BGN P/Y c/Y N IXY PV PNIT EV