The car of your dreams is priced at $38,000. The dealer is offering to finance 100% of the price at 4.25% over 72 months. Alternatively, a local bank is offering 100% financing at a lower rate of 3.95% over 48 months. If your max monthly payment is $600, which one would you opt for? The dealer 1) a. b. The bank C. Cannot afford either one 2) You are planning to fund a scholarship at Kent State that will grant $32,000 every year in perpetuity. There is an investment fund offering 6.25% per year. How much upfront investment would it cost you to fund the account? About $267,000 About $800,000 About $512,000 a. b. C. 3) A mortgage lender will offer 80% financing on a home. The house you choose is priced at $390,000 and you opt for a 3.20% mortgage loan over 30 years paid monthly. What is your monthly payment amount? $942.99 a. b. $1,349.30 C. $801.54