QUESTION 3 Eric wants to buy a new Mercedes. The cost is $80,000. Eric will put $20,000 down and pay the rest in equal monthly payments over five years which will begin in one month and which include interest at 10%. How much are the monthly payments? $1,000.00 $ 1,274.82 $ 1,008.33 $ 6,019.77 Some other number QUESTION 4 How much does Bella need to put in the bank today if she wants to withdraw $20,000 per year for each of the next five years? She will put the money in a bank which pays 8% annually. She will make her first withdrawal exactly one year from today $ 98,120.14 $ 79,854.20 $ 100,000.00 $ 83,698.31 Some other number QUESTIONS Annuity means the present value the future value annual payment the future value of a series of payments Something else