4. The Mutual Assurance and Life Company is offering an insurance policy under e

4. The Mutual Assurance and Life Company is offering an insurance policy under either of the following two terms:a. Make a series of 12 payments of $1200 at the beginning of each of the next 12 years (the first payment being made today).b. Make a single lump-sum payment today of $10000 and receive coverage for the next 12 years.13. You decide to purchase a building for $30000 by paying $5000 down and assuming a mortgage of $25000. The bank offers you a 15 year mortgage requiring annual end of year payments of #3188 each. The bank also requires you to pay a 3 percent loan origination fee which will reduce the effective amount the bank lends to you. Compute the annual percentage rate of interest on this loan.17. (see book)26. (see book)30. (see book)37. (see book)38. (see book)40. (see book)