Intro You took out a loan to buy a new car. The monthly interest rate on the loan is 2%. You have to pay $240 every month for 60 months. Part 1 | Attempt 1/10 for 10 pts. What is the present value of the cash flows if it's an annuity due? 8509.47 Correct Part 2 What is the future value of the cash flows if it's an annuity due? 0+ decimals Submit You just turned 20 years old and want to retire when you turn 65. You expect to live for 25 years after retirement and want to withdraw $100,000 per year in retirement, starting on your 65th birthday. You expect to earn a return of 8% on your investments every year. Part 1 Attempt 1/10 for 10 pts. What is the total present value (as of your 65th birthday) of the withdrawals you expect to make in retirement? 1152875.83 Correct Part 2 Attempt 1/10 for 10 pts. You want to save a constant amount every year. How much money should you save each year if you make the first deposit now and the last one one year before you turn 65? 0+ decimals Submit