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Please kindly clearly show all calculations! 1. Your oldest child needs a car and you believe you can afford no more than $360 a month

Please kindly clearly show all calculations! image text in transcribed
1. Your oldest child needs a car and you believe you can afford no more than $360 a month for a 5-year car loan. If the interest rate on this loan is 3.4% percent, what is the maximum you can afford to borrow to purchase this car? 10. Your employer contributes $100 a week to your retirement plan. Assume that you work for this employer for another 14 years and the applicable discount rate is 7.25%. Given these assumptions, what is this benefit worth to you today? 11. You anticipate being able to put away $1,800 at the end of each year into your 401(k) for each of the next 25 years (NOT $1,800 once but rather $1,800 in each year) and anticipate earning 8.5% per year on your investments. Assuming annual compounding and no distributions, how much do you expect to have in your 401(k) account after 25 years? 12. You are borrowing $21,000 with no money down to buy a car. The terms of the loan call for equal monthly payments for 5 years at 4.25% annual interest What is the amount of each monthly payment? 13. Your company takes out a 10-year term loan to borrow $1,325,000 to finance a building expansion. The annual interest rate on the loan is 4.75% and equal payments are made monthly How much will the monthly payment be? 14. Referring back to question #19, how much total interest will the company be paying over the life of term loan

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