Chapter 8 In class assignment-submitted in Canvas Use these factors to answer questions n i PV$1 FV$1 PVA FVA 3 8% 0.79383 1.25971 2.57710 3.2464 5 8% 0.68058 1.46933 3.99271 5.8666 60 0.67% 0.67121 1.48985 49.31843 73.4769 1. You decide to save $410 every month for five years to buy a new car. How much will you have at the end of the five years if you earn 8%? $ (round to nearest dollar) 2. You want to buy a $30,000 car today and will be making monthly payments for the next five years. What is your car payment if your borrowing rate is 8%? $__. (round to nearest dollar) 3. You accepted a job offer with a local company that has offered to give you a signing bonus of $10,000 today or a $13,000 bonus in 3 years (guaranteed). Your current investment rate is 8%. What is the best economic decision, take the bonus today or wait 3 years? 4. You plan to invest $2,500 every year for the next 5 years. What will be the value of your investment at the end of the 5 years if you can earn 8% annual interest? $ (round to nearest dollar) 5. Your grandparents have decided to give you $20,000 for grad school but they want to wait 3 years to give it to you. Assuming your grandparents are earning 8% annually, how much do they need to invest so that have the $20,000 to give you in 3 years? $. (round to nearest dollar)