Question 1 0.5 pts Andy is paying $625 every month on his business loan. If the loan lasts 6 years and has a 8% interest rate, how much was the original loan amount? $5,515.83 $35,646.58 $393.86 O $45,000.00 Question 2 0.5 pts Bruce was injured at work. His employer is offering two options as settlement. (1) One payment of $310,000 today. Or (2) Yearly payments of $50,000 for the next 10 years. Based on a discount rate of 9%, what is the PV of Option 2? Which option should Bruce take? O $287,951.19. Take Option 1 O $500,000. Take Option 1 O $320,882.89. Take Option 2 O $759,646.49. Take Option 2 Question 3 0.5 pts Erika is paying $1,100 every month on her house loan. If the loan lasts 29 years and has a 3.25% interest rate, how much was the original loan amount? O $382,800.00 $247,693.24 O $634,867.96 O $19,057.86 Question 4 0.5 pts Bobby can afford to pay $985 per month for the next 32 years for a home loan. At a rate of 4.00% per year, how much money can Bobby borrow today? O $280.78 O $378,240.00 O $213,164.91 O $765,047.15 Question 5 0.5 pts Tom is paying $950 every month on his house loan. If the loan lasts 31 years and has a 3.75% interest rate, how much was the original loan amount? $353,400.00 $208,765.68 $666,406.51 O $303.45