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4. You know that you'll inherit $25,000 in 15 years. a. If you borrow $3,000 now and plan to pay it off with the money
4. You know that you'll inherit $25,000 in 15 years. a. If you borrow $3,000 now and plan to pay it off with the money you'll inherit, what is the highest annual interest rate you can afford on the loan? 5. You have $6,000 in your savings account, and want to buy a car for $20,000. a. If you are not earning any more money and the interest rate on your savings account is 2% per year, how many years do you have to wait before you can buy the car
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