Question 2 3 pts You would like to receive a retirement payment of $250,000 per year for 30 years. You plan to earn 7.5% interest while in retirement. How much money do you need in a lump sum at retirement, in order to fund this? O 2,671,923.00 O 2,543,917.00 0 2,952,596.00 O 3,455,001.00 Question 3 3 pts Your plan is to have $4,500,000 on hand to retire 40 years from now. At 9% interest (annual), how much do you need to invest each month, in order to save the $4.5 million? 961.00 O 1,244.00 1,890.00 0 2,276.00 Question 5 3 pts How much total interest will you pay if you borrow $175,000 for 30 years (monthly payments) at 8% annual interest? O 287,271.00 O 319,001.00 0 212,877.00 O 462,271.00 Question 6 3 pts Compare the following two loans. Loan 1: $175,000, 8% annual interest, 30 years (monthly PMTs) Loan 2: $175,000, 7% annual interest, 15 years (monthly PMTs) How much more total interest do you pay on the 30 year loan vs. the 15 year loan? O 100,002.00 0 287,271.00 O 108,130.00 O 179,140.00