Say that you purchase a house for $264,000 by getting a mortgage for $230,000 and paying a down paymegt of $34,000. If you get a 20-year mortgage with an interest rate of 6 percent, what are the monthly payments? (Round your finel answer to 2 decimal places.) ament What would the loan balance be in five years? (Use a payment value rounded to 2 decimal places. Round your final answer to 2 decimal places.) Loan balance If the house appreciates at 3 percent per year, what will be the value of the house in five years? (Round your final answer to 2 decimal places.) Future value At age 22 you invest $1,500 that earns 9 percent each year. At age 37 you invest $1,500 that earns 12 percent per year In which case would you have more money at age 65? Oinvesting at age 37 O investing at age 22 ces You wish to buy a $22,500 car. The dealer offers you a 4-year loan with a 10.8 percent APR. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) per month Payment How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) per month ment A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $2,300 per month for the next three years and then $4,600 per month for two years after that. If the bank is charging customers 8.25 percent APR, how much would it be willing to lend the business owner? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value To borrow $1,300, you are offered an add on interest loan at 8.8 percent with 12 monthly payments. Compute,the 12 equal payments. (Round your answer to 2 decimal places.) Equal payments Use the amount you borrowed and the monthly payments you computed to calculate the APR of the loan. Then, use that APR to compute the EAR of the loan. (Do not round intermediate calculations and round your answer to 2 decimal places.) EAR