You wanted to buy a Porsche for $85,000. The dealer asked you for a down payment of $5400. You borrowed the rest 60 months at 7 percent. What is the amount of each payment? A. $1051.02 O B. $1126.23 O C. $1387.47 O D. $1576.03 O E. $1624.40 Question 16 4 pts Your grandmother has promised to give you $5,000 when you graduate from college. She is expecting you to graduate two years from now. What happens to the present value of this gift if you graduate one year early and graduate on year from now? O A. remains constant O B. increases O C. decreases OD. becomes negative cannot be determined from the information provided