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1. You want to purchase a car that costs $29552. You can afford $1120as a down payment and will borrow the rest. The bank has

1. You want to purchase a car that costs $29552. You can afford $1120as a down payment and will borrow the rest. The bank has offered you a rate of 4.03% on a 4-year loan.What is your monthly payment?

2. You will invest $161per month. If the rate is 9.40%,how much will you have in 6 years?

3. You will invest $200per year. If the rate is 9.48%,how much will you have in 7 years?

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