FI 320 Spring 2020 Vou're on your way to Spring Break, credit card waiting to be used for all of the trip's expenses. You've calculated that, when you get back, you will only be able to afford monthly payments of $40. The card has an annual interest rate of 15%, and you have decided that you must have the card paid in full in 3 years. How much will you be able to spend on Spring Break? 10. While on Spring Break, you bought a ticket for the Lotto de Cancun, and you won 3 million Pesos. You are given a choice between receiving a check for 2 million Pesos immediately, or taking your winnings in annual instalments over the next 10 years. From a financial perspective, was discount rate of 10%, which is the optimal choice? A. Immediate check B. Annual instalments 11. A broker offers you an investment opp u an investment opportunity that will pay you $5000 a T T e duantage of this opportunity starting 2 C ay you $5000 a year for the next 3 years ortunity, you need to invest S14,000 up estment, should you do