ANSWER THIS QUESTIONS AND SHOW ALL YOUR WORK DO THE QUESTIONS ON A PIECE OF PAPER

1. Over a five-year period, the maintenance on a car included two oil changes per year ($48 each), new brakes ($452), new tires ($678), and a new set of spark plugs ($145). What is the average yearly maintenance fee on the car for the five-year period?

2. Determine the future value of a loan of $1,850 at
3.6%, compounded monthly for both three years and five years. How much money would you save if you were to pay back the loan in three years rather than five?

3. Explain why it's better to start contributing to a retirement savings plan at a young age rather than at an older age.

4.The Suri family has decided to buy a car. The car has a MSRP of $24,500. They wish to get several upgrades that will cost $2,654. They have negotiated a $2,800 discount from the MSRP. Freight costs $800. They must pay a fuel-efficiencv tax of $500 and an air conditioner tax of $90. The dealer is charging a non-taxable administration fee of $45. Licence fees (non-taxable) cost $80, and gas (also non-taxable) costs $50. Calculate the total amount, including taxes, that the Suri family must pay the dealership. (Note: Tax is 13%.)