You are going to purchase a new piece of equipment for $250,000. The bank is quoting you a 30-year fixed loan with a 7.5% APR. You will make a down payment of $50,000. Assume the payments are being made at the end of the period and you do not need to pay back the down payment. Assuming 30 years later you have paid off the loan completely. What was the total cost of this loan? $232,190.9150 $508,027.4160 $500,307.2280 $503,434.4400 You are going to purchase a new piece of equipment for $250,000. The bank is quoting you a 30-year fixed loan with a 7.5% APR. You will make a down payment of $50,000. Assume the payments are being made at the end of the period and you do not need to pay back the down payment. How much interest did you pay in the 14th year only? 0 $2,473.9488 $191,040.8734 $12,916.6307 $11.908.0828 Gordon Gecko is 30 years old today and wants to plan for his retirement. He wants to set aside equal amounts each year for the next 30 years so that he can retire at age 60. He expects to live to a maximum age of 80 and wants to be able to withdraw $100,000 per year for 20 years at the beginning of each year. The account is expected to earn 10% APR, compounded monthly, for the working period and 4% APR for the retirement period. How much must he invest at the end of each year to achieve this goal? O $7,441.1174 $7,503.1267 O $625.2606 $620.0931