QUESTION 23 For Questions 23-25. Suppose you borrowed $30,000 from a bank to buy a car. The loan will have a 5% interest rate compounded monthly. What is the car payment if you finance it for 60 months? O $559.21 $566.14 $579.31 QUESTION 24 Prepare a loan amortization schedule for one year. OptionA Month Beginning Balance Payments Interest Principal Ending Balanc 1 20,000 $566.14 $83.33 $482.80 $19,517.20 2 $19,517.20 $566.14 $81.32 $484.82 $19,032.38 3 $19,032.38 $566.14 $79.30 $486.84 $18,545.55 4 $18,545.55 $566.14 $77.27 $488.86 $18,056.68 5 $18,056.68 $566.14 $75.24 $490.90 $17,565.78 6 $17,565.78 $566.14 $73.19 $492.95 $17,072.83 7 $17,072.83 $566.14 $71.14 $495.00 $16,577.83 8 $16,577.83 $566.14 $69.07 $497.06 $16,080.77 9 $16,080.77 $566.14 $67.00 $499.13 $15,581.64 212 10 $15,581.64 $566.14 $64.92 $501.21 $15,080.42 11 $15,080.42 $566.14 $62.84 $503.30 $14,577.12 12 $14,577.12 $566.14 $60.74 $505.40 $14,071.72 $865.37 $5,928.28 OptionB Month Beginning Balance Payments Interest Principal Ending Balanc 1 30,000 $566.14 $125.00 $441.14 $29,558.86 2 $29,558.86 $566.14 $123.16 $442.98 $29,115.89 3 $29,115.89 $566.14 $121.32 $444.82 $28,671.07 4 $28,671.07 $566.14 $119.46 $446.67 $28,224.39 578 394 39 C566.14 $117 60 CAAR SA 77.775 86