25. You are interested in buying a used car, one that is priced at $21,500. And, you know your maximum payment is $345 per month, but you refuse to divulge that to the salesperson even though they are pestering you for your maximum payment. With 100% financing and Ignoring sales tax, if interest rates over 60 months are at 4.00% per yr., what is the maximum price you can pay for the car in order to match your monthly payment parameter? a. $16,300 b. $15.710 Page 6 c. $18.733 d. $15,117 26. You own a rental property and a stranger has offered to pay you to rent the property for the next 5 years. The stranger says he will pay $12,000 per year at the end of each year for 5 years or will give you $55,000 at the beginning of the lease. If you can earn 5.00% elsewhere, which one should you choose? a. Take the money up front b. Take the annual payments c. Don't lease the property to a stranger d. There is no economic difference between the two choices