Q1) Compute a monthly car payment of the following conditions: A car price: $30,000 Down payment: $2,000 Term: 72 months APR: 2.99% I Q2) With the information below, how much can you afford to borrow? - Monthly mortgage you can afford to pay: $1,200 Down payment: $20,000 Loan eligibility: 30 year (360 payments) APR (Annual Percentage Rate): 4.125% Q3) How much do I need to save each month now in order to have the $1 million by age 65? Assume that your age is 20 and you can earn 8% return per year over your saving period. Q4) Based on the Q3) information above, how much difference does it make whether you start now (at your age of 20) or wait for 10 years (at age 30)? (5) You have two investment opportunities: (1) Annual percentage rate of 12% with compounding annually, and (ii) Annual percentage rate of 12% with compounding monthly. The initial investment is $1,000 and the investment period is 1 year. a) What would you choose? (1) or (ii)? b) After one year later, how much more could you make from your choice compared to the other? 5 MacBook Air