You want to purchase a new car in 3 years and can save $700 per month during that time. Assuming you can earn 8% compounded monthly, how much will you have to buy the car? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $2,114.03 b $2,272.48 c $28,375.06 d $31,971.50 You've just been hired at an investment banking firm. The company offers you two salary options. Option A pays $6,250 per month for the next two years. Option B pays $4,600 per month for the next two years, along with a $30,000 signing bonus today. If the interest rate is 8% compounded monthly, which do you prefer and why? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Option B because the cash flows have a higher present value b Option B because of the $30,000 signing bonus c Option A because the cash flows have a higher present value d Option A because of the higher monthly salary e You would be indifferent between the two