Q3. Suppose you want to borrow $40,000 for a new car. You can borrow at 8% per year, compounded monthly. If you take a 5-year loan, what is your monthly payment? 05796 D) S684 A) $778 B) S697 04. You are saving for a new house and you put $10,000 per year in an account paying 8%. The first payment is made today. How much will you have at the end of 3 years? D) S63.359 CS63.452 A) 66.326 B) $65.593