You borrow $120,000 today at an interest rate of 7%. The loan is set up as a 6-year loan, with equal annual payments of $21,000 at the end of each year. What will be the balance, if any, on this loan at the end of the five years? $24,655.12 $37,354.26 $16,700.09 $32,176.65 $29,868.54 You buy a car for $20,000 with a 5% down payment. You borrow the remainder of the funds from your bank that charges you 5.5% on the loan. You are required to pay back the loan in equal monthly installments over a six-year period, with the first payment due one month from the loan date. What will be your monthly payment? $297.11 $268.74 $255.90 $340.05 $310.42 You invest $8,000 today and after two years you invest another $6,000. What will be the balance of your investment portfolio after three years? Assume that you will make an 9% return over the three years. $15,554 $ 16,900 $16,700 $15,095 $16,208 $16,208. You selected this