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3) A new car has just been purchased for $27,500 where $22,500 of this money is to be borrowed in a loan for 6 years

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3) A new car has just been purchased for $27,500 where $22,500 of this money is to be borrowed in a loan for 6 years at an annual interest rate of 3.35%. What are the monthly payment amount L, the total value V and total interest paid I for this loan? Possible Answers: AL = $ 365.39, V = $ 26,308.08, I = $ 3,808.08 B) L = $ 395.39, V = $ 28,468.08, I = $ 5,968.08 L = $ 345.39, V = $ 24,868.08, I = $ 2,368.08 +) A new retirement account is just opened. You plan on putting into it an average of $ 275 per month for 35 years at an average yearly rate of return of 7.35%. What are the total value V of this account at the end of the 35 years, the total amount A put into the account over 35 years and the total interest I received in the 35 years? Possible Answers: AV = $ 521,901.94, A = $ 115,500.00, 1 = $ 406,401.94 B, V = $ 541,901.94, A = $ 115,500.00, I=$ 426,401.94 V = $ 561,901.94, A= $ 115,500.00, I = $ 446,401.94 A new retirement account is just opened. You plan on putting into it an average of $ 425 per month for 40 years at an average yearly rate of return of 7.75%. What are the total value V of this account at the end of the 40 years, the total amount A put into the account over 40 years and the total interest I received in the 40 years? Possible Answers: A) V = $ 1,389,389.60, A= $ 204,000.00, I=$ 1,185,389.60 By V = $ 1,369,389,60, A= $ 204,000.00,1= $ 1,165,389.60 V = $ 1,399,389.60, A = $ 204,000.00, 1 = $ 1,195,389.60

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