Question 3 4 pts Grace just graduated and would like to purchase a house in 4 years. If she has $500 automatically invested out of each paycheck at the end of each month for 4 years into the SPY ETF (that mimics the S&P500 Index) and is expected to earn 12 percent (compounded monthly), how much of a down payment will she have at the end of 4 years? a $30,142 b. $30,514 c. $30792 d. $30,611 e. $30,804 4 pts 4 pts Question 4 Aggieland Credit Union offers to lend Bob $24,000 to buy a car; the loan calls for payments of $544.59 at the end of each month for 4 years. Which of the following statements is most FALSE? a. The monthly rate of interest is 0.3542 percent b. The nominal annual rate of interest is percent 4.25 percent c. The effective annual rate of interest is 4.2162 percent. d. If the loan were for 3 years, the payment would be $711.25