What will your monthly payment be for a car you purchase for $95,000 today where the bank will finance it for you for 60 months at 5.5% (APR)? $1, 011 $2, 590 $1, 034 $1, 814 $1, 216 What is your effective rate of interest for the car loan of the previous question? 5% 5.23% 5.5% 5.64% 6.11% What happens to the PV of a set amount if the length of time shrinks from 10 to 7 years, but the rate stays the same? The PV increases The PV decreases The PV doesn't change The PV goes to infinity What happens to the PV of a set amount to be received in 10 years if your rate of return decreases? The PV increases The PV decreases The PV doesn't change The PV goes to infinity