Time Limit: 2.00.00 Time Left:1307 Ivan Covington Attempt 1 Page 1 2 Question 14 (1 point) Suppose you borrowed $25,000 at a rate of 7% and must repay it in 4 equal installments at the end of each of the next 4 years. How large would your payments be? 5 6 a) $7.691.45 8 9 b) $7.548.02 10 11 12 c) $7,380.70 13 14 15 d) $7.214.79 e) $7,716.72 16 17 18 19 20 21 Question 15 (1 point) You are buying your first house for $220,000, and are paying $30,000 as a down payment. You have arranged to finance the remaining $190,000 30-year mortgage with a 8% nominal interest rate and monthly payments. What are the equal monthly payments you must make? 22 23 24 a) $1,529 Maced