PURCHASING A HOME The Johnsons have accumulated a nest egg of $40,000 that they intend to use as a down payment toward the purchase of a new house. Because their pres- ent gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of $2400/ month in monthly payments to take advantage of the tay deduction) toward the purchase of their house. Howeve 21. INVESTMENT ANALYSIS Luis has $150,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over" his assets to a new account. Luis also plans to put $3000/quarter into the new account until his retirement 20 years from now. If the new account eams interest at the rate of 4.5%/year compounded quarterly, how much will Luis have in his account at the time of his retirement? Hint: Use the compound interest formula and the annuity formula. 25. Auto FINANCING Lup made a down payment of $8000 toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 6%/year compounded monthly. Under the terms of her finance agreement, she is required to make payments of $420/month for 36 months. What is the cash price of the car