Use these factors to answer questions (ROUND ANSWERS TO NEAREST DOLLAR) n 1 3 9% PV$1...

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Use these factors to answer questions (ROUND ANSWERS TO NEAREST DOLLAR) n 1 3 9% PV$1 0.77218 1.29503 FV$1 PVA 2.53129 6 8% 0.63017 1.58687 FVA 3.2781 4.62288 7.3359 72 0.67% 0.61977 1.61350 57.03452 92.0253 1. You want to buy a $35,000 car today and will be making monthly payments for the next 6 years. What is your car payment if your borrowing rate is 8%? $ 2. You want to have $35,000 at the end of 3 years to buy a new car. How much should you save each year to achieve your goal if you can earn 9%? $ 3. You invest $10,000 today in an account and will leave the money invested for 6 years. Your average investment rate is 8%, what amount will you have in the account at the end of the 6 years? $ 4. You plan to invest $2,000 every year for the next 3 years. What will be the value of your investment at the end of the 3 years if you can earn 9% annual interest? $ 5. Your grandparents have decided to give you $20,000 in 3 years for graduate school. Assuming your grandparents are earning 9% annually, how much do they need to invest today so that have the $20,000 to give you in 3 years? $ Use these factors to answer questions (ROUND ANSWERS TO NEAREST DOLLAR) n 1 3 9% PV$1 0.77218 1.29503 FV$1 PVA 2.53129 6 8% 0.63017 1.58687 FVA 3.2781 4.62288 7.3359 72 0.67% 0.61977 1.61350 57.03452 92.0253 1. You want to buy a $35,000 car today and will be making monthly payments for the next 6 years. What is your car payment if your borrowing rate is 8%? $ 2. You want to have $35,000 at the end of 3 years to buy a new car. How much should you save each year to achieve your goal if you can earn 9%? $ 3. You invest $10,000 today in an account and will leave the money invested for 6 years. Your average investment rate is 8%, what amount will you have in the account at the end of the 6 years? $ 4. You plan to invest $2,000 every year for the next 3 years. What will be the value of your investment at the end of the 3 years if you can earn 9% annual interest? $ 5. Your grandparents have decided to give you $20,000 in 3 years for graduate school. Assuming your grandparents are earning 9% annually, how much do they need to invest today so that have the $20,000 to give you in 3 years? $