Chapter 8-10 In class assignment-submitted in Canvas n PV$1 FV$1 PVA 5 5% 0.78353 1.27628 4.32948 60 0.42% 0.77921 1.28336 52.99071 FVA 5.5256 68.0061 1. You can afford to pay $425 in monthly payments to purchase a car today and will be making these payments for the next 5 years. What is the most your car can cost if your borrowing rate is 5%? $ (round to nearest dollar) For 2-3 use the following: The company issues 8% 5-year bonds with a total face amount of $500,000 with interest paid semi- annually. The market rate of interest is 8.1%. n % PV PVA 10 4.00% 0.67556 8.1109 10 4.05% 0.67232 8.0907 2. What is the issue price of the bond? $. round to nearest dollar 3. What is the interest expense for the first interest payment? $. round to nearest dollar