Suppose you want to borrow $35,000 for a new car. You can borrow at 8% per year, compounded monthly. If you take a 7-year loan, what is your monthly payment? 9. Suppose you borrow $2,500 at 6%, and you are going to make annual payments of $785. How long before you pay off the loan? 10. Suppose you begin saving for your retirement by depositing $2,000 per year in an IRA. If the interest rate is 7.5%, how much will you have in 40 years? 11. Calculate the following: a. What is the APR if the monthly rate is 0.8%? b. What is the APR if the semiannual rate is 0.6%? c. What is the monthly rate if the APR is 17% with monthly compounding? 12. Suppose the following: a. Suppose you can earn 1% per month on $1 invested today. How much are you effectively earning? b. Suppose if you put it in another account, you earn 3% per quarter. What is the APR? Effective Rate? 13. Consider a bond with a coupon rate of 9% and coupons paid annually. The par value is $1,000 and the bond has 5 years to maturity. The yield to maturity is 11%. What is the value of the bond? 14. Assuming dividends grow at a constant rate, use the Dividend Growth Model to compute how much you think your company stock should be selling for. Explain where you got the variables for your equation. 15. Use the CAPM to find your required rate of return