Chapter 8-10 In class assignment- submitted in Canvas ni PVS1 FVS1 PVA FVA | 54% 0.821931.21665 4.451825.4163 60|0.33% 0.81900 1.2210054.29907|66.2990 1. You want to have $32,000 at the end of 5 years make a down payment on a house. How much should you save each year to achieve your goal if you can earn 4%? $ (round to nearest dollar) 2. You want to buy a $32,000 car today and will be making monthly payments for the next 5 years. What is your car payment if your borrowing rate is 4%?$ (round to nearest dollar) ni PV$1 FV$1 PVA FVA 2 5%0.90703 1.10250 1.85941 2.0500 3. You win a lotto drawing and your choice is to take the $50,000 lump sum now or wait and take a larger amount ($55,000) in 2 years (guaranteed). Your current investment rate is 5%. What is the best economic decision, take the lump sum today or wait 2 years