To join an upscale country club, an individual must first purchase a membership bond for $25,000. In addition, monthly membership dues are $280. Suppose an individual wants to put aside a lump sum of money now to pay for her basic country club membership expenses (including the $25,000 bond) over the next 27 years. She can earn an APR of 4%, compounded monthly, on her investments. What amount must this person now commit to the membership? The person must now commit $ to the membership. (Round to the nearest dollar.) Your FICO score makes a big difference in how lenders determine what interest rate to charge you. Consider the situation faced by Edward and Jorge. Edward has a fairly poor FICO score of 660 and, as a result, pays 18.0% APR on the unpaid balance of his credit card. Jorge has a FICO score of 740 and pays only 7.3% APR on the unpaid balance of his credit card. If both persons carry an average balance of $3,000 on their credit cards for three years, how much more money will Edward repay compared with what Jorge owes (moral: you want a high FICO score)? Assume monthly compounding of interest. Edward will repay $ more. (Round to the nearest dollar.)