Please ASAP What will your monthly payment be for a car you purchase for $70,000 today where the bank will finance it for you for months at 2 99 (APR) Answer 1063 24 You invested $20,000 in two different banks Bank 1 pays 5 percent simple interest whereas Bank 2 pays 5 percent compounded annually If you plan to invest the money for 20 years which bank would you choose and how much more money would you earn Bank 1 $33,065 95 Bank 1 $13,065 95 Bank 2 $13,065 95 Bank 2 $33,065 95 Bank 2 $14,965 95 What is your effective rate of interest (EAR) for the car loan of the previous question 0 25 3 03 O 1 50 2 99 3 50

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Please ASAP What will your monthly payment be for a car you purchase for $70,000 today where the bank will finance it for you for months at 2 99   (APR)  Answer  1063 24 You invested $20,000 in two different banks  Bank 1 pays 5 percent simple interest whereas Bank 2 pays 5 percent compounded annually  If you plan to invest the money for 20 years which bank would you choose and how much more money would you earn  Bank 1  $33,065 95 Bank 1  $13,065 95 Bank 2  $13,065 95 Bank 2  $33,065 95 Bank 2  $14,965 95 What is your effective rate of interest (EAR) for the car loan of the previous question  0 25  3 03  O 1 50  2 99  3 50

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Please ASAP What will your monthly payment be for a car you purchase for $70,000 today where the bank will finance it for you for

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