Suppose you want to buy a car today. If you can afford payments of $493 per month and want to pay the loan back over the next 7 years. Assuming no down payment is required, how much can you borrow if the bank will charge you an annual percentage rate of 3% APR? (Work out the problem on separate sheet of paper before entering the answer.) Answer: Check Suppose you racked up $33317 of student loan and the interest is 5%APR, if you would have to pay back the loan with interest over the next 5 years, how much would be your monthly payment amount? (Work out the problem on separate sheet of paper before entering the answer.) Answer: Check Using the Rule of 72, approximately how long will it take to double your money if you invest it at 9% compounded annually? (Work out the problem on separate sheet of paper before entering the answer.) Answer: Check Suppose you want to create a "college fund" for your newborn child and plan to deposit $207 in a bank account at the end of each of the next 9 years. If the account paid 2% interest per year, how much will be in the account at the end of the 9th year? (Work out the problem on separate sheet of paper before entering the answer.) Answer: Check