Suppose you borrow $2,000 at 5% and you are going to make annual payments of $734.42. How long before you pay off the loan?

Suppose you borrow $10,000 from your parents to buy a car. You agree to pay $207.58 per month for 60 months. What is the monthly interest rate? APR? EAR?

Suppose you want to borrow $60,000 for a new car. You can borrow at 3.2% per year, compounded monthly If you take a 4-year loan, what is your monthly payment?

You ran a little short on your spring break vacation, so you put $1,000 on your credit card. You can only afford to make the minimum payment of $20 per month. The interest rate on the credit card is 1.5 percent per month. How long will you need to pay off the$1,000? How much interest will you pay?

You are saving for a new house and you put $25,000 per year in an account paying 4.5%. The first payment is made today. How much will you have at the end of 3 years?

AmeriCash Advance allows you to write a check for $120 dated 18 days in the future, for which they give you $100 today (in most states). So, what are the APR and EAR of this arrangement?