Question 14 You want to buy a $290,000 home. You plan to pay 25% as a down payment, and take out a 30-year loan at 4.55% for the rest. The bank requires 2 points at closing. Question 15 (a) How much is the loan amount going to be? $ You can afford a $200 per month car payment. You've found a 3 year loan at 4% interest. How big of a loan can you afford? (b) How much are the closing costs? $ $ > Next Question (c) What will your monthly payments be? $ (d) How much will you pay in interest over the life of the loan? $ Question 16 Find the time required for an investment of 5000 dollars to grow to 8500 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Your answer is t = years