Question: 9 . Suppose you borrow $ 1 9 , 0 0 0 from your bank to buy a car. You agree to pay $ 3

9. Suppose you borrow $19,000 from your bank to buy a car. You agree to pay $362.05 per month for 60 months. What is the interest rate (APR) for the loan?
Question 9 options:
4.2%
4.8%
5.4%
6%
6.6%
7.2%
10. Suppose you plan to retire in 40 years. If you make annual contributions of $15,000 into your retirement account for the first 14 years, and no more contributions to the account for the remaining 26 years. If the retirement account earns a fixed 14% annual interest, how much will you have at your retirement?
Question 10 options:
$16,964,735
$16,983,185
$17,005,385
$17,022,935
$17,043,785
$17,073,185

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