Even though you have no idea who you will marry, you are planning an elaborate wedding for 4 years from now. The estimated cost of the wedding is $80,000 and you expect to earn 5.5 percent on your savings. How much do you need to save each month for this purpose assuming that you have no money saved as of today? $ 881, 59 $1, 088, 84 $1, 493, 85 $2, 106, 93 Currently, you owe the bank $16, 475 on a car loan. The loan has an interest rate of 9.25 percent and monthly payments of $285. You realize that you cannot make enough money to keep up with the payments. After talking with your banker and explaining the situation, he has agreed to lower the monthly payments to $225 and keep the interest rate at 9.25 percent. How much longer will it take you to repay this loan than you had originally planned? 3.86 months 12.92 months 15.18 months 31.41 months 35.30 months