How much interest would you pay if you bought a car for $40,000 that was fully financed with a 6.0% auto loan that lasted 5 years (assuming that you make payments annually)?

$4,667

$5,540

$7,479

$4,956

$9,240

Upon graduating from college, Bobby has $43,000 worth of student loans with an interest rate of 7.0%. How many years must the loan be if her annual payment budget is $6,000 (rounded to the nearest number)?

10 Years

7 years

5 Years

4 Years

25 Years