1. You bought a new car for $28,000. You're financing the purchase with a 5-year loan.

The APR on the loan is 3.5%, compounded monthly. What is the amount of your monthly car payment?

$516.79

$466.67

$509.37

$602.64

$554.25

2.Which of the following will likely increase the future value of your retirement account?

a.

Increase the amount of the contributions to the account.

b.

Make your contributions at the beginning of each period instead of the end of each

period.

c.

Invest your contribution into an account with a higher return.

d.

Make contributions to the account for a longer time period.

e.

All of the above will likely increase the accounts future value.