Jake just got a new job and is going to buy a new minivan so that he can do all trip. He can either pay $30,000 today or pay six equal annual payments of $5,000 starting at the year. The appropriate interest rate is 6%. Which payment plan should he choose? 3. of his grocery shopping in one 4. Micah's lifetime ambition is to own a beauty salon. Ari currently owns one, but has decided to offer to sell i to Micah to help make his dream come true. Ari proposes that Micah wait for 5 years to buy her business, at which time Micah will pay her $6,000,000. How much will Micah need to invest at 7% today to have enough money for the purchase in 5 years