Question: Shert. Problems (questions, 5 points each) YOU MUST SHOW YOUR WORK. A bunk offers a loan that will requires you to pay 6% interest compounded

Shert. Problems (questions, 5 points each) YOU MUST SHOW YOUR WORK. A bunk offers a loan that will requires you to pay 6% interest compounded monthly. What is the EAR charged by the bank? 2) Your bank account pays monthly interest with an APR of 8%. You are planning to buy a house in 6 years, and you wish to save $40,000 for the down payment. If you currently have no money in your awunt how much will you need to save at the end of each month? 3) You are considering purchasing a new truck that will cost you $34,000. The dealer offers you 1.9% APR financing for 48 months (with payments made at the end of the month). Assuming you finance the entire 534,000 and finance through the dealer, what is your monthly payments

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