Open your EZ Calculators App Go to the third option on the top row "Loan Calculator" to answer the following: Insert Screen Shots of the calculations to "show your work" - Not showing work will result in loss of up to 1 point. 2. You just bought a "fixer-upper" home and you need to buy new appliances. You go to The Home Depot and a GE refrigerator, stove, microwave, and dishwasher package is $10,400. They tell you that you can qualify for immediate credit and finance the purchase on the spot. The interest rate is 29%. You decide you will pay this off in five (5) years. What is your monthly payment? (A) How much interest did you pay over the five-year loan? (B) 29% is a ridiculous amount of interest. If you can qualify for a personal loan at a local credit union or bank at 11% interest, what is your payment over five years? (C) How much interest did you pay over those five years? (D) Better yet, save up three years for the appliances and pay cash. If you need $10,400 in three years and you can earn 4.5% in your money market savings fund, how much do you need to save per month? (E) (Go to the TVM calculator in the app) How much interest did you save going with the personal loan over the financing that the store offered you? (F)