you have an option of taking $13,000 today, $118.75 a month for 15 years, or $318.47 a month for 5 years.

years. Ifyou think you can obtain 7% on this money, which would be a better option for you? Please show all 3 options. S C 1. You have an option of taking $13.000 today, $118.75 a month for 15 years, or $318.47 a month for 5 Answer: You need $4,000,000 for retirement. How much would you need to deposit today at 12% to achieve this goal in 15 years? 2. Answer 3. Based on the information from the previous problem, how much would you need to deposit monthly? Answer: First National Bank charges 10.1 percent compounded monthly on its business loans. First United Bank charges 10.3 percent compounded semiannually. As a potential borrower, which bank would you go to for a new loan? 4. Answer: 5. A loan that compounds interest monthly has an EAR of 14.40 percent. What is the APR