1.You have been dating your significant other for 2 years now and youve decided it is time to pop the question!Your fianc-to-be, Pat, has expensive taste and has picked out a band that costs $7,450, but Pat is willing to wait for you to save the money.You dont want to wait though and have found the jeweler with the best financing options.

1. How much would you have to save each month if you deposited the money in a 2% interest bearing account for 18 months?

b.How much would you pay each month if you financed the total cost of the ring for 18 months at 2% interest?

c.How much more will you pay for the ring if you finance it?