A. John plans to buy a used car worth $15,000. He wants to take a loan of the whole amount, a 4yr,6% APR (a monthly interest rate=0.5\%(i.e., 6%/12 ). Compute John's monthly payment. 1. Which issue does Case A request you to solve ? a. Future Value(FV) b. Present Value(PV) c. Interest Rate (I) d. Periods (N) e. Repeating payment(PMT): A payment of the same amount for a set of number of months (or years) such as for a car loan or mortgage 2. Once you correctly answer the question #1, go to the TVM online calculator and fill in the blank based on Case A : https://www.gigacalculator.com/calculators/time-value-ofmoney-calculator.php a. Present value (PV) : $ b. Future value (FV):$ c. Interest rate : % d. Number of periods : e. $ B. John's budget is only $230 per month if you buy a car. How much car can he afford if you can borrow a 4yr,6% APR Loan(a monthly interest rate =0.5%( i.e., 6%/12) ? 1. Which issue does Case B request you to solve ? a. Future Value(FV) b. Present Value(PV) c. Interest Rate (I) d. Periods (N) e. Repeating payment(PMT) 2. Once you correctly answer the question #1, go to the TVM online calculator and fill in the blanks based on Case B : https://www.gigacalculator.com/calculators/time-value-ofmoney-calculator.php (Note: your month payment is cash outflow, thus use -(minus) before the amount) a. Present value (PV):$. b. Future value (FV) : $ c. Interest rate : d. Number of periods : e. Payment :9 3. Can you buy a car of $15,000 with your $230 of monthly budget based on your answer ? Can or Can't, why