QUESTION 5 Assume that you are considering the purchase of a car, but you can make an initial payment of only $1703 and can afford monthly payments of at most $675. If the interest rate is 4.1 percent per year compounded monthly and you finance the purchase over 36 months, what is the maximum price you can pay for the car? 19978.42 20468.5 29390.76 21852.07 24531.36 QUESTION 6 Seyda is going to retire in 21 years from now. She wants to be able to withdraw $8080 at the end of each month for 15 years after her retirement. If she will be able to earn 1% per month on her deposit account for these years (all the years before and after she retires ). What will be the amount of monthly payments that she makes for 21 years until she retires? 709.9 526.55 597.16 500.86 686.77 QUESTION 7 Hasan needs to borrow $210000 to buy a condo. The bank offers a 20-year loan with equal monthly payments. The monthly interest rate on the loan is 1.0 percent. What is the monthly payment on this loan? 1983.85 2009.47 O 1948.63 2568.67 2312.28