30. You have borrowed $135,000 from the bank today. You are required to repay this money over the next six years by making monthly payments of $2,215.10 at the end of each month. What is the quoted interest rate for the loan (with monthly compounding)? A) 5.65% B) 6.13% C) 9.63% D) 4.71% E) 6.38% 23 at A Oy @ * 3 $ 4 % 5 6 & 7 8 9 W E R T Y U I 0 P { S D F G H J L X C V B Z M. . ? T 1 ## amand command option 26. You are the financial manager at Best Buy where a certain TV set is normally sold for $2,500 and the full purchase price is financed for 30 monthly payments at 24% per year compounded monthly, with the payments made at the end of each month. During Christmas Best Buy is planning to run a zero-interest financing sale during which you will offer the customers to finance the TV set over 30 months at 0% interest. How much do you need to charge for the TV set during the Christmas sale in order to earn your usual combined return on the sale and the financing? A) $3,437 B) $2,500 C) $3,349 D) $2,827 E) $3,784