Question: please help with these two! thanks If you borrow $22,000 for a new car and the terms of the loan call for 5 years of

please help with these two! thanks
please help with these two! thanks If you borrow $22,000 for a

If you borrow $22,000 for a new car and the terms of the loan call for 5 years of monthly payments at a quoted annual rate of 6%, What is your monthly payment? 1) $4,400 2) $572 3) $5,223 4 4) $ 425 Question 2 (2 points) How much money will you need today if you want to withdraw $2,500 each year for 10 years and can earn 5% annually? 1) $31,444 2) $27,659 3) $25,000 4) $19,304

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!