Dell Links B Bing * Suppose you borrow $2,000 at 15%, and you are going to make annual payments of $734.42. How lon g before you pay off the loan? 5.76 years 3.76 years 06.76 years 4.76 years Suppose you borrow $10,000 from your parents to buy a car. You agree to pay $207.58 per month for 90 months. 3.56% 0.56% 1.56% 2.56% You want to receive $5,000 per month for the next 8 years. 1. How much would you need to deposit today if you can earn 0.75% per month? 2.What monthly rate would you need to earn if you only have $200,000 to deposit? Deposit today=$341,292.19, Monthly rate=2.19% Deposit today=$361 292 19. Monthly rate=2.39% Deposit today=$351 292 19, Monthly rate=2.29% Deposit today=$371 292 19 Monthly rate=2 49% Suppose you have $600.000 to deposit and can earn 0.75% per month. 1. How many months could you receive the $5,000 payment? 2. How much could you receive every month for 5 years? 1. You can receive the $5000 payment for 198.53 months 2 You can receive monthly payment of $12,37 9 18 every month for 5 years 195 DLL