To buy a GM car today, you need to pay $$2,000$ down and $$500$ per month for the next $5$ years. What is the price of the car today if $R$ is $12\%$ per year? $($Answer is rounded to the nearest dollar$)$

$$24,278$

$$24,478$

$$24,678$

$$24,878$

None of the above

QUESTION $4$

Twelve rental payments of $$1,000$ will be made at the beginning of each month. If $R$ is $12\%$ per year, what is the PV of the payments?

$($Answer is rounded to the nearest dollar$)$

A$.$ $$11,368$

B$.$ $$11,468$

C$.$ $$11,568$

D$.$ $$11,668$

E$.$ None of the above

QUESTION $5$

You are $20$ years old. You want to begin saving for retirement, with the first payment to come next year. You can save $$2,000$ annually and expect to earn $5\%$ per year. How much will you have at age $65?($Answer is rounded to the nearest dollar$)$

A$.$ $$35,548$

B$.$ $$90,443$

C$.$ $$148,574$

D$.$ $$212,849$

E$.$ $$268,106$

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